The insurance needs we address for businesses include benefit plans for employees, as well as unique plans for owners.
Business owners typically acquire life policies to fund a buy-out agreement between partners/shareholders. In addition, it is a common practice to insure key employee(s) whose loss could undermine the operations and profitability of the business.
A business has two financial exposures that can be covered by this valuable form of coverage. Owners can purchase an income replacement for their salary or draw if they are unable to work. On a second level, most businesses are burdened with high overhead expenses that continue during an owner’s extended illness or injury. These expenses can be reimbursed by a commercial policy allowing the business to operate without financial disruption.