Life insurance for business owners is structured around a specific need. Your lender may require it as collateral for an SBA loan. Your company can protect against the financial loss incurred with the death of key employees. You can fund a buy-sell agreement if a partner passes away.
Obtaining business funding can be a little challenging, especially for a startup or young company. Lenders usually require some type of collateral from the business owner(s). Life insurance is often part of that requirement. It’s used to protect the lender in the event of the borrower’s death. In this article, I’ll discuss how life insurance…Read More
When most people think of life insurance they imagine someone who wants to provide for a loved one in the event of their death. At it’s most basic, life insurance is designed to pay out a death benefit to the insured person’s beneficiaries. That’s often a spouse, parent(s), children, a charity, or anyone the insured…Read More