When you’ve built something, it makes sense to protect it. We do it almost without thinking when it comes to insuring equipment or other key business assets. But there are other things to protect along the way.
For example, if you’ve ever had the flu, you know that a day or two out of the office isn’t a problem, but when it becomes four or five days, or a couple of weeks, things start moving in the wrong direction. This is even more challenging if you become critically ill, temporarily or permanently disabled, require long-term care, or worse. That’s why you need to be protected as well.
Within the business, utilizing life insurance to fund buy/sell agreements can ensure continuity by providing the cash needed to buy the shares of each owner, either at death or departure from the company. For select, non-owner employees, who are critical to the mission of the company, Key Person insurance might be the right solution.
We know that no one wants to talk about these kinds of things, but it can become devastating when protection that’s needed isn’t in place.
To make the most of everything you’ve got, you have to protect things along the way. Let us help with our efficient insurance audit tools and planning process that will help you decide what’s worth protecting, and what’s not.