Meet Vikas. He is a family-business entrepreneur with a rather classic problem: His family has been purchasing and saving gold for nearly three decades now. And I don’t mean gold as in jewelry – they’ve been buying, bartering, and saving actual gold bricks. For the sake of this case study, let’s assume they’ve got about US$ 2 million saved up…
Over the last few weeks, I’m finding myself in an increasing number of conversations with ultra-high-net-worth entrepreneurs and their families. These businesspeople and their families often have one recurring question: ‘When we’ve got so much of everything, why do we need even more?’ They’ve got abundant cash reserves, hefty investment portfolios (enough for them to lead very, very comfortable lives…
In my 20 years as a Life Insurance advisor, I’ve seen Life Insurance policies being put to many different uses by my clients. For high and ultra-high-net-worth entrepreneurs especially, Life Insurance can prove to be a diverse, powerful tool. But I want to share with you a recent case and one of the most unique applications I’ve seen for Life…
Life insurance is such a versatile tool. It can be used as collateral to secure a loan, protect your partnership or your business, ease wealth transfer and help your legacy to live on long after you are gone. But so many of these Life Insurance applications are focused on entrepreneurs. Entrepreneurship comes with its fair share of uncertainty. One bad…
I’ll go straight into a short but rather unfortunate case study. In 2003, I got introduced to Ritesh, a businessman who needed to procure Life Insurance cover worth US$ 2-3 million. The bank had asked Ritesh to provide some form of collateral to be able to continue extending the credit facility that they had been extending to him for the…
A few weeks ago, I wrote about the C-suite Dilemma. The article focused on the major personal finance challenges that C-suite executives face when they are ready to step down from the upper echelons of the corporate world. The article led to a few executives in my network reaching out to me to discuss their particular situations in closer detail.…
