With so many people counting on your business, it is crucial to have a succession plan that can help your business survive the death or disability of an owner, partner or key person.
Such a critical situation could have a severe and adverse financial impact on your business and all the people you care about.
Why consider Life or Living Benefit Insurance:
- Making sure that you have an income even if you or your business are no longer able to generate one due to disability.
- Providing dollars needed to maintain the day-to-day expenses of your business during a disability leave.
- Eliminating debt and the retirement of corporate loans which have been personally guaranteed by the owner.
- Insuring that your business has enough money to survive the death/disability of a key person.
- Funding a buy-sell arrangement.
- Providing capital.
- Utilizing the estate to equalize non-active members of the family.
- Solving the tax liability that arises in death.
- Retrieving an asset such as shares donated to a charity or family foundation.