Here are four other reasons life insurance for business owners is so important: Income replacement for your family.A personalTerm LifeorWhole Lifepolicy can cover end-of-life expenses and secure family finances for things like kids’ college and the mortgage. It can also protect the success and...
In these cases,key man life insurancecan be purchased on the life of the business owner to protect the company in the event that he/she unexpectedly passes away. With key man insurance, the business owns the insurance policy and pays the premiums and is also the beneficiary. If the business...
1. Personal life insurance for business owners 2. Key person life insurance for business owners 3. Buy-sell agreements and life insurance for co-owners Table of contents As a business owner, you’ll likely need more life insurance than what you’d get from a personal policy. A personal lif...
It is said that a quality life insurance policy provides “certainty in an uncertain world.” Our world, the sea in which we sail, is marked by turbulent waters; many things can jeopardize our income, happiness, and financial security–a good insurance policy can be a kind of anchor in th...
The business might not be worth much without the owner at the helm. Or heirs might have to unload it at a discount when forced to sell the business quickly. Tips: A lender might require the borrower to buy life insurance as a condition of the loan. But don’t name the bank as the...
Discover how life insurance can help protect your business, diversify your assets, cover debt and plan for a partner buyout.
Investment and Insurance Products • Are NOT Deposits • Are NOT FDIC Insured • Are NOT Insured By Any Federal Government Agency • Have NO Bank Guarantee • May Go Down In Value Investing involves risks and you may incur a profit or a loss. Past performance cannot guarantee future...
9. Equipment Breakdown Insurance: This cover provides security to factories and industrial machines. It also protects businesses from the damages and costs incurred caused by the accidental breakdown and physical damage of the machinery. For instance, you’re a small tea shop owner that depends on...
Getting life insurance as a small-business owner Nearly 3 in 4 U.S. adults (72%) overestimate the cost of life insurance, Life Happens and LIMRA’s 2024 Insurance Barometer Study found[0] LIMRA.U.S. Life Insurance Need Gap Grows in 2024. ...
Business life insurance can help. You’ve built a great business that needs protection for the future. After all, what are you working toward? Surely not the short-term. It’s all about the long-term sustainability of your company and the legacy you’ll leave behind. So, have you conside...