Question 1

What is an 831(b) Micro Captive Plan?

Accepted Answer

An 831(b) Micro Captive Plan is a tax-advantaged insurance solution that allows successful businesses to cover uncommon, underinsured, or uninsured risks with tax-deferred funds, previously only available to Fortune 500 companies.

Question 2

How does the 831(b) Micro Captive Plan differ from traditional insurance?

Accepted Answer

The 831(b) Micro Captive Plan provides greater flexibility and control compared to traditional insurance policies. It allows businesses to tailor their coverage to their specific needs and use tax-deferred funds to cover risks that may not be adequately addressed by traditional insurance.

Question 3

What types of risks can be covered by an 831(b) Micro Captive Plan?

Accepted Answer

An 831(b) Micro Captive Plan can be used to cover a wide range of uncommon, underinsured, or uninsured risks, such as cyber liability, product recalls, and environmental liability, among others.

Question 4

Who can benefit from an 831(b) Micro Captive Plan?

Accepted Answer

Any successful business can benefit from an 831(b) Micro Captive Plan, as it provides access to the same tools and strategies previously reserved for Fortune 500 companies.

Question 5

How can a business get started with an 831(b) Micro Captive Plan?

Accepted Answer

To get started with an 831(b) Micro Captive Plan, businesses should consult with a qualified professional who specializes in this type of tax-advantaged insurance solution. They can help guide the business through the set-up process and ensure compliance with all relevant regulations.

SRA 831(b) Admin

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Frequently Asked Questions about SRA 831(b) Admin

What is an 831(b) Micro Captive Plan?

How does the 831(b) Micro Captive Plan differ from traditional insurance?

What types of risks can be covered by an 831(b) Micro Captive Plan?

Who can benefit from an 831(b) Micro Captive Plan?

How can a business get started with an 831(b) Micro Captive Plan?

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