This blog was created to give business owners tips on affordable ways to capture the tremendous tax benefits associated with captive insurance.
It's true that captive insurance can be used to gain control over the claims process, increase premium stability, and wrest underwriting profits back from your traditional insurance company. However, a majority of business owners exploring captives are primarily motivated by tax benefits, not a desire to eschew their current insurer.
It follows that a business owner turning to captive insurance for tax savings (as opposed to insurance control), will be especially interested in keeping setup and maintenance costs low. And the tips in this blog are intended to help do just that.
NOTE, this blog offers legitimate suggestions for keeping captive insurance costs down, but absolutely does not advocate “cutting corners.” You must structure and run your captive as a bona fide, for profit, insurance company. Further, this site presumes the reader already has a basic understanding of captive insurance. If not, please review these diagrams first.