|Posted by email@example.com on April 14, 2017 at 3:40 PM|
In my experience Business Owners make up a demographic of individuals that have the most to gain and the most to lose when it comes to Life Insurance. Business owners have the most to lose because you have more than just your income to replace but potentially shares of company to replace.
For the business that has more than one owner this holds true in that if one owner of a business passes away. How will the family of that individual receive 50% of the value of the business. This is a common flaw in most partnerships as they do not have a funded plan for that contigency. The use of Life Insurance can insure the greaving family can be compensated appropriately and the surviving owner can be whole in their ownership of the company. Conversly, the major benefit of the Business Owner is that they have a vehicle that has mulitple options and benefits to their Profit and Loss Statement(P&L).
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