When I Felt That I Was Spending Too Much Money On Premiums, Delaware Captive Proved To Be The Soluti

Ever since the day I launched my business, I have been facing one problem or another

, but recently, I came upon an issue that had me stymied until I learned about the benefits of Delaware captive insurance. For those of you who may not be familiar with the idea of captive insurance, I will start from the beginning, when I understood that we were paying extremely high premiums, but we have relatively few claims. This is incredibly irritating to me, as I know that insurance is necessary, but can't understand why our premiums need to be so high.

I wanted to find an alternative, so I launched my own small investigation into and came across a description of captive insurance, an idea that illuminated my mind. As I learned more and more about it, I saw that this Delaware captive insurance could be the answer to my prayers. In short, it meant that with a captive insurance structure, a business like mine would be able to be insured, paying premiums, but also be able to save money and insure greater risks.

I decided to get the opinions of my friends and colleagues, all of whom informed me it was a great idea that I should implement right away. So, I began hunting for the right people to help me make that happen, which led me to a website for a company that specialized in this sort of process. I gave them a call and they were anxious to get started, so we set up a captive, which was a very educational experience, but one I would not repeat without the right people at my side.

They helped me learn the ins and outs of an 831b captive, which is a tax code term that is very important to those in a situation like mine. I was indeed extremely grateful for this information and advice as it pertained to many of the issues my business was facing and we benefitted from using this type of captive.

When everything had been put in place and we had implemented the captive, I no longer felt like I was chucking my money in the trash, since I was getting a lot more benefits from the captive such as tax breaks that were very helpful to me. It means a ton to me that I was able to find the right help at the right time, when my growing company really needed to learn some new business ideas in order to meet our goals.

by: Lavernn M. Poole

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