Alex Baumann Stepping Down as CEO of Swimming Australia Due to Health Reasons
|Alex Baumann Stepping Down as CEO of Swimming Australia Due to Health Reasons|
Swimming Australia's CEO, Alex Baumann, recently announced his resignation shortly following Australia's impressive performance in the pool at the Tokyo Olympics. Australia's swim team took home 20 medals, nine of which were gold. The 57-year-old Olympic gold medalist, sports administrator, and coach, cited health reasons for his departure. Baumann won gold medals in the 200- and 400-meter individual medley for Canada during the 1984 Olympics in Los Angeles. His net worth is reportedly between $1-5 Million.
Read the full story here.
High Limit Disability Income Protection
Executives & Entrepreneurs
Alex Baumann's story is a reminder to advisors that your client's ability to earn a sizeable income is their biggest asset, yet it is most often taken for granted. Further, disability insurance preserves what executives and entrepreneurs value the most and why they're in business: control. They are in control of their destiny, their business, and their future. Successful advisors couple an executive's lost of control and future income protection as tools to communicate and educate their clients.
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Featured Case Study
Buy-Sell Disability Policy
In this case, we had three brothers requesting disability buy-sell coverage for their business valued at $30 million. We originally proposed a plan to fully fund the agreement with three $10M lump sums ($10M/brother per their agreement). This plan carried a six-figure premium – there was no interest. Working with the advisor, we designed an alternative solution to provide an income continuation plan, extend the disability buy-sell trigger, and provide a down payment for their share repurchase in the event one of the brothers became disabled. This design reduced the premium and provided a real plan in the event a partner was disabled - the case sold!
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