Delaware Captive Proved To Be The Ideal Solution To A Vexing Business Problem

Ever since the day I started my business, I have been facing one problem or another, but recently, I came upon an issue that had me flummoxed 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. And now you may understand why this was such an irritation to me, since every business requires insurance, but with few claims, I do not understand why I was being charged so much.

I began to do some research into other insurance alternatives and came across the concept of captive insurance, a concept that I had not been familiar with previously. As I garnered more and more information about Delaware captive insurance, I slowly came to the conclusion that I had found what I was looking for. 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 told me it was a fantastic idea that I should implement right away. This triggered a frenzied search on the Internet for someone, anyone who could help me with this, and while online, I uncovered the website for a wonderful company that specialized in captives. I contacted them and they initiated the process of helping me to set up a captive, which was not as complicated as some might think, but should still be done only when helped by experts.

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 very thankful 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 garbage, since I was getting a lot more benefits from the captive such as tax breaks that were very useful to me. It means a ton to me that I was able to find the proper help at the right time, when my growing company really needed to learn some new business ideas in order to meet our goals.

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