Types of Life Insurance For Small Business Owners
If you’re a business owner, you would be well aware that the operation of your business is highly dependent on your decisions. While this is a good thing, as long as you’re alive, you need to consider what could happen in your absence. If you don't think either your family or business can manage financially without you, you will need life insurance to give financial protection to your family, business, business partner, and employees. If this is a subject that is entirely new to you, here is a brief guide of different types of life insurance suitable for you. 1 Individual Life Insurance For Small Business Owners Individual life insurance is for owners who have business partners. In this insurance policy, in the event of the demise of either of the business partners, the benefits of the policy goes to the surviving owner. It helps the surviving owner continue the business by providing protection from financial shortages and challenges. 2 Key Person Life Insurance In a key person...