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

I am the owner of a modest, but fairly successful business, but we have some rather vexing problems, most of which, I have learned, can be alleviated with the help 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 realized that we were paying extraordinarily high premiums, but we have relatively few claims. Thus the source of my frustration as I cannot dispute the need for insurance, but at the same time, I do not understand why I was being charged so much for premiums.

I longed to know if this must be my fate forever, so I began to explore other options, and while doing so, encountered a new idea, that of captive insurance. As I learned more and more about it, I realized that this Delaware captive insurance could be the answer to my prayers. It basically meant that I could set up a captive insurance structure for my business and pay the premium money to the captive which would permit me to save money while still being insured.

I asked around and everyone said that I should have set up a captive a long time ago, a statement that I started to eagerly agree with. This encouraged me to begin a hunt for someone who could help me set up a captive, and in so doing, I found a website for a company that was expert in setting them up. 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 assisted by experts.

They helped me learn the ins and outs of an 831b captive, which is a tax code term that is pretty significant to those in a situation like mine. I was indeed extremely grateful 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. I am happy that there are companies out there who can help a small business like mine by setting up captives and explaining how they can work for each and every unique business.

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