MEMBER ONLY EVENT - Do you know life insurance can be used as a bonding asset?

Contractors and construction companies have to keep liquid assets on their books for bonding purposes as conditions and requirements on certain agreements to protect against any number of adverse events. These events may include disruptions in a project, failure to complete a project due to insolvency of the contractor(s), or the project’s failure to meet contract specifications.

Bonding assets held in reserve are frequently limited to certain types of cash and equivalents. However, Corporate-owned life insurance (COLI) policies can provide the business owner with additional personal and business benefits not available with other assets.

While each situation is unique, assets set aside are often significant and are often a subject of frustration to the contractor. Join us as we talk about how Corporate-owned life insurance (COLI) can be used as a bonding asset and may offer an efficient way to allow these assets to serve multiple functions.

Lunch will be provided.

About the Presenters

John Sitarz: As a financial professional with the Minnesota Business Center of the Principal®, John Sitarz works with businesses and individuals to help build plans and strategies to work towards financial success. John specializes in estate planning, business succession planning and executive bonus programs. Sitarz entered into the financial services industry in 1988. His professional achievements include: Principal’s Top Club Recognition Program (Presidents Circle, Executive Cabinet, Honor Council and Premier Club) qualifier since 1990; Top Sales Leader in fee-based executive planning services since 2003; MDRT (Million Dollar Round Table) qualifier since 1988.

Tej Singh: As a financial professional with the Minnesota Business Center of Principal®, Tej Singh builds strategies for businesses and individuals to help plan for their financial success. Tej is dedicated to offering ethical and honest advice to assist each client reach their financial goals. Tej is a member of the Latino Economic Development Center and on the committee of the Latino Scholarship Fund since 2016, focused on providing scholarships to students who have shown leadership in the Latino community, have a financial need, and are actively engaged in their school work. Along with Principal Financial Group, Tej has joined the MN/ND Chapter of Associated Builders and Contractors and sits on the Membership Committee of ABC.

REGISTRATION DEADLINE IS FRIDAY, FEBRUARY 2ND, 2018!

All cancellation must be made in writing 72 hours prior to the start date and are subject to a processing fee. No refunds will be given if cancellations are made after the deadline. Most events and programs have space limitations and reservations are taken on first come, first serve basis. It is important to reserve early for an event or program that you wish to attend. ABC reserves the right to cancel the class for any reason and will do so at least 48 hours before the beginning of the course. This session will be postponed and/or cancelled if the class minimum is not met.

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Life Insurance and Bonding Assets Lunch 'n' Learn - February 7th, 2018