BUSINESS OWNERS
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Here are some key characteristics and features for business owners to consider when investing in insurance for themselves:
1. Business Protection: Ensures business continuity in case of the owner's death or disability.
2. Tax Benefits: Certain insurance products offer tax-deferred growth or tax-free withdrawals.
3. Risk Management: Mitigates financial risks associated with business ownership.
4. Key Person Insurance: Protects the business from financial loss due to the death or disability of a key person.
KEY FEATURES
1. Life Insurance: Provides a death benefit to the business or beneficiaries.
2. Disability Insurance: Replaces income if the business owner becomes disabled.
3. Business Overhead Expense Insurance: Covers business expenses if the owner becomes disabled.
4. Buy-Sell Agreement Funding: Ensures smooth business transfer in case of an owner's death or departure.
5. Tax-Deferred Growth: Allows investments to grow tax-deferred, reducing tax liabilities.
POPULAR PRODUCTS FOR BUSINESS OWNERS INCLUDE:
1. Term Life Insurance: Provides coverage for a specified period.
2. Permanent Life Insurance: Lifetime coverage with a cash value component.
3. Disability Income Insurance: Replaces income if the owner becomes disabled.
4. Business Overhead Expense Insurance: Covers business expenses during disability.
