Do I Really need business Life insurance?
Chances are almost any business – from large corporations to small mom-and-pop stores – has some sort of business life insurance built into its financial plan. While it is necessary for a strong financial foundation, these types of plans aren’t for everyone.
Small to medium sized companies benefit most from implementing these policies, as their owners, shareholders, or founders still play a large role in how they are run. If you are the sole owner/founder of a small company, you most likely run the show, from bookkeeping to event scheduling.
If you were to walk away from your business, it wouldn’t survive without you. You also most likely still have start-up debts to pay off, as well as other incidentals like office rent and inventory. If this describes your business, you will certainly benefit business life insurance.