Use Life Insurance as Part of Your Business Continuation Plan

Many small, closely held businesses fail to survive beyond the first generation because their owners don’t plan adequately. As a business owner, you need to plan and prepare for passing your business on to the next generation of owners, either family members or another company. When planning, be sure to consider:

  • Who will continue your business?
  • What would happen to your business if you pass away or become sick or disabled?
  • What will happen to your business when you retire?
  • What impact would the death or disability of one of your key employees have on your business?

Protect Your Business’s Future Today

Protecting your business’s future can be easier than you think, especially when you have the help of a knowledgeable financial professional. A financial professional can help you answer the important questions and create a business continuation plan appropriate for your situation. He or she can explain products commonly used in business continuation planning, such as life insurance, which can help:

  • Provide for the sale of your business to a co-owner, employee, family member, or other interested party.
  • Ensure you get the price you want for your business when you do sell.
  • Protect key employees as well as the impact if you lost them.
  • Protect you, your partners, and your family.

Contact a financial professional today to learn more about protecting your business