Small-business owners may know they need life insurance to protect their families, but what about their companies?
Businesses can run into major problems in the event of an owner's unexpected death, and having the financial protection of a life insurance policy is vital.
That coverage can be used for any number of business-related expenses, such as retaining key staff or paying down outstanding debts.
This ensures the company can maintain its current operations without a major disruption.
While there's no one-size-fits-all solution to a firm's needs, pairing life insurance with a strong operational plan in the case of an owner's untimely death is absolutely critical to ensuring its long-term success.
Speaking with a broker or agent will help ensure all involved get what they need.