At Redhawk Wealth Advisors we offer Business Owners a variety of products and services including:
Captive Insurance Company
The CIC was originally created to solve a problem of rising commercial insurance costs and the difficulty in obtaining certain types of insurance coverage. Most companies now establish CICs for microeconomic reasons such as cost reduction, risk management, or risk control.
ERISA 3(21) and ERISA 3(38)
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for retirement and health benefit plans (group-sponsored benefits) in private industry. ERISA does not require any employer to establish a plan. It only requires that those who establish plans must meet certain minimum standards.
ERISA covers retirement, health and other welfare benefit plans (e.g., medical, life, and disability plans). Among other things, ERISA provides that those individuals who manage plans (and other fiduciaries) must meet certain standards of conduct. The law also contains detailed provisions for reporting to the government and disclosure to participants. There also are provisions aimed at assuring that plan funds are protected and that participants who qualify receive their benefits.
For Life Insurance the best way is to do one of two things:
1. If you are very young (under 40 say) with less capital to spare, buy a specific convertible term policy.
2. If you are any age with plenty of extra capital to spare, buy a whole life policy with the ability to stuff it with as much extra cash as is legal.
This is our opinion. We live by this opinion ourselves. As a fiduciary, we must provide the public with our best opinions so that’s what we did here. If you choose some other life insurance product or protection mechanism, that is perfectly OK with us. We simply follow the “Good to Great” formula: pick the one thing you do very well and stick to it.
We have some incredibly well-trained and vetted people both internally here at the HQ and across the country who know this subject well and must qualify would-be consumers the way we say to do it.