Life Insurance & IUL Advisor in Grand Rapids, MI
CentraLife advisors serve Grand Rapids families from our Dearborn, MI headquarters — max-funded IUL, mortgage protection, final expense, and estate strategies. In person or by phone.
What is buy-sell funding and does my Grand Rapids business need it?
A buy-sell agreement says what happens to ownership when a partner dies or exits; funding it with life insurance means the money to execute the buyout appears exactly when it’s needed, income-tax-free under IRC §101(a). If you have partners and no funded agreement, the surviving families end up negotiating under the worst possible circumstances.
How does key-person insurance work?
The business owns a policy on the person whose absence would materially hurt revenue — a founder, a rainmaker, the one engineer who knows the machines. Proceeds give the company breathing room to recover, recruit, and reassure lenders. Premiums are modest relative to the risk they retire.
I’m planning to sell the business in 5–10 years. Why start a policy now?
Because the years before a sale are when cash flow is strongest and insurability is best — and a max-funded policy started now becomes the post-sale tax shelter that qualified plans can’t match once the W-2 income stops.