What every business owner should know about life insurance

Business protection, group rates, executive perks, and loan collateral are all life insurance benefits business owners can enjoy.

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Did you know?

As a business owner or partner, you have the opportunity to financially protect your business and employees, in addition to your family and loved ones, in the case of your passing.

Life insurance payouts can keep the business running, alleviate any financial burdens, and provide security for your company.

Business owners may purchase a life insurance policy as an employee benefit while the business covers its premiums.
Group life insurance for businesses allows owners and employees to utilize group rates.
A company or business partner can be a beneficiary of a life insurance policy.
A permanent life insurance policy’s cash value can be used to start a business.
Securing a business loan may be more accessible if the business owner has a life insurance policy.

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Why do you need life insurance?

Taking care of your business

When covered by life insurance, your business, associates, and personal partners will not be left with financial burdens if you die and it’s one of the best ways to fund a buy-sell agreement.

Secure a business loan

The Small Business Administration (SBA) requires a life insurance policy as collateral from small business owners.

Retirement planning

Life insurance can be purchased and designed for its tax benefits and relied upon to supplement retirement.

Family protection

Being a business owner is a top priority, but your family comes first. With life insurance, your dependents would have financial security if you passed away.

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