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One of the first things any business owner needs to consider is how to protect against events that may threaten the future of the business, like the death of a proprietor, partner or key employee.
Learn how life insurance can be used to protect your family, your business and your employees from unwanted debts and responsibilities when an owner dies:
Individual life insurance
Individual life insurance can protect your family by providing funds to cover debts, ongoing living expenses, and future plans in the event that something happens to you.
Buy-sell agreement
A buy-sell agreement is an agreement between owners to buy out a deceased owner's share of the business in the event of the co-owner's retirement, disability or death.
Key person insurance
Key person insurance is life insurance purchased by the business on the life of such an employee and payable to the business. The death benefit can help make up for lost sales or earnings or cover the cost of finding and training a replacement.
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