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My Business Is Too Small for Life Insurance

If you think that your business is too small to need life insurance, you are wrong.  In fact, the smaller a business is, the greater the need for life insurance.

The need for life insurance is not a function of size of business.  It is a function of planning for the inevitable.

In virtually every small business the entrepreneur who started the business is the linchpin to the business’ continuation and success.  Without the entrepreneur, the business would, in all probability, close its’ doors.

By definition, the entrepreneur is the Key Person for the business.  In this situation, it is financially irresponsible to not insure this person.  Insurance exists for financial protection.  Nothing more.

The inevitable will happen; key people die.  When they do, the desire is for everyone left behind to come through the situation financially sound.  The survivor list includes any personnel who will continue on with the business.  It includes the key person’s heirs.  It includes any creditors of the business.

If you insure your vehicle to guarantee continued transportation in case of an accident, then insuring a key person and/or entrepreneur is even more important.  It is guaranteed that we will die.  It is guaranteed that there will be financial implications tied to the business continuation and estate issues.

A Key Person Life Insurance policy guarantees coverage of all of these financial contingencies.