We Put Life Insurance to Work
Industries We Serve
Acumen thrives in helping businesses attract and retain key employees, preserve equity, protect against loss and coordinate succession and estate planning.
We create specific life insurance plans for credit unions so they can earn a higher current yield without sacrificing safety or liquidity and acquire life insurance protection to attract and retain their top executives.
Life Insurance Planning
Every person and situation is unique, so we do not believe in a one-size-fits-all approach to life insurance planning. As independent advanced life insurance professionals, we are not beholden to any insurance carrier or program. That allows us to provide our clients with best-in-class life insurance for any situation and from virtually the entire universe of top-quality carriers. We handle everything from policy design, underwriting, placement, and servicing to integration with your overall financial and estate plan. We audit existing life insurance policies to help clients understand what they own and ensure that their coverage remains competitive. We also provide second opinions of life insurance vehicles proposed by others who do not share our depth of expertise in this unique area.
Special Life Insurance Markets
It may make sense for clients acquiring large amounts of life insurance to borrow the policy premiums, especially in today’s low interest rate environment. Acumen has access to the entire premium finance marketplace and can design a plan that preserves cash flow, reduces out-of-pocket costs, minimizes collateral, and uses realistic policy performance projections.
When a life insurance policy is no longer needed, a life settlement may provide the owner with more money than simply returning the policy to the carrier for its cash surrender value. Acumen works with dozens of companies that seek to acquire existing life insurance policies and help negotiate the highest price on behalf of our clients.
Business Succession Planning
Life insurance is utilized by business owners to protect against the loss of their most valuable employees (“key-person” coverage). They also use corporate-owned life insurance in conjunction with a buy-sell or shareholders’ agreement to provide the liquidity needed to redeem shares when an owner leaves the company or passes away. Working with owners of successful businesses also requires coordination with their estate plans; the Acumen team is uniquely positioned to design flexible life insurance plans with both goals in mind.
The liquidity that life insurance provides can be a tax-efficient way to meet a client’s estate and wealth transfer planning goals. This includes accomplishing tax mitigation, estate equalization, special needs, asset protection, and charitable endeavors. Special attention is paid to flexibility and exit strategies in case things change. Acumen’s knowledge of advanced planning techniques and strategic life insurance policy designs makes the firm a go-to resource for families using life insurance for estate planning.
Special tax advantages and unique growth opportunities make the cash value component of permanent life insurance policies a popular vehicle to generate retirement income. Many modern contracts also offer other “living benefits,” such as coverage for long-term care costs. Whether it’s corporate (“COLI”) or individually-owned, Acumen insurance professionals know which life insurance contracts are most advantageous to accomplishing retirement planning goals, and how to effectively underwrite, design, and fund the policies.
Executive Retention Planning
Attracting, rewarding, and retaining key people so they stay and perform can be challenging, especially if offering ownership equity if not desirable or possible, such as with a nonprofit organization or a family-owned business. The professionals at Acumen know how to design life insurance policies for companies that can be specifically used to help a company achieve its executive retention planning goals.
Credit Union-Owned Life Insurance and Executive Benefit Planning
Life insurance is utilized by the nation’s largest credit unions as an “otherwise impermissible investment” to offset employee benefit expenses. Acumen is the nation’s expert in designing credit union-owned life insurance contracts that maximize benefits for both the key executives and the sponsoring organizations. We also show credit unions how to use life insurance to increase earnings compared to similar risk-adjusted assets without sacrificing safety or liquidity.
Cash and Liquidity
In a low interest rate environment and with volatile markets, it can be challenging to generate much yield on “rainy day” money without taking additional risk. Acumen works with companies and individuals to design specialized life insurance contracts that provide more meaningful current yields on these assets, without sacrificing the safety or liquidity of the funds.