Fascinating History…Should this Insurance Product be Resurrected for Exit Planning?
There are so many aspects to long-term planning and getting prepared for your next phase of life. These include the structure of your exit plan as well as working on building profitability, sales and therefore the value of your business.
When we work with clients on comprehensive exit planning, financial, tax and insurance tools can be a critical part of success. Here is a fascinating story. Will history repeat itself?
Created in 17th century Europe, this retirement scheme predated IRAs, social security and pensions. In the U.S., it was at the right of its popularity in the late 1800’s and became two-thirds the insurance market. There were an estimated 9 million “tontine” policies within America’s 18 million homes.
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David Shavzin, CMC