Small business owners have specific financial needs, which means they also have specific insurance needs. For success, life insurance for small business owners should be a priority. Are you just starting a business? Do you have other partners, investors, and employees? If so, now is the time to look into an insurance policy.
A term life insurance policy for a set duration of time should be purchased as soon as you start the business. The earliest years of a business are the most essential, and can determine whether it succeeds or fails. If you are starting a business in your 40's, a 25 year term policy would cover you all the way up through retirement. But, if you’re a younger business owner, a 20 or 30-year term policy will also be more affordable. No matter the term, Insurance is vital to protect the future of the company.
What would happen if you, another investor, or essential partner were to suddenly pass away? By setting up term life insurance policies for owners and partners, you can make sure the business won’t deteriorate in their absence. Surviving partners will be able to keep the business going while you look to replace their role in the company. A death could be a disaster for other employees and partners, and it could destroy the company you worked so hard to build.
Life Happens. Contact us, and we’ll help you on the road to success with your small business!
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Term Life Insurance products are offered through TMFS Insurance Agency LLC, a separate company, affiliated with Financial Engines Advisors, L.L.C. (FEA), in states where licensed. TMFS Insurance Agency, LLC is under common ownership with FEA. Each entity is its own separate entity that provides services for its client independent from the other.