Building a business is challenging, but keeping that business going after you’re gone is another challenge. So, clear succession plans for a small business are vital. But funding these plans is just as important.
Life insurance can be used to fund succession strategies for small businesses. It’s a way of protecting both the company and its heirs. But how does life insurance work for small businesses?
Business Owners Need Life Insurance
This isn’t about a big payday; it’s about financially protecting your business and loved ones. A business owner’s death is disruptive. Life insurance can be used to keep the business afloat until the dust settles….