Protecting your family and company from bankruptcy.
If you’re like most small business owners, you’ve invested your entire life savings into your company. What would happen to the company if you should pass away? What about your employees, partners, and their families? What about your family? Are they protected? Looking at these “what if” scenarios can be daunting, but there really is a simple way to protect your family and your business from going bankrupt should something happen to you.
Business oriented life insurance can offer protection for both your family and the future of your company. With the right guidance, these policies are designed to address the specific needs of your company based on size, the insured, and the needs of those that would be left behind in the event of your sudden passing. There are many options to consider, here are a few:
- Will the company be disbanded, sold, or will there be funds available to open a new one?
- Would you like your employees to purchase the company after your death?
- Is there an automatic buyout arrangement should you or your business partner(s) die unexpectedly?
- Should a replacement be hired so that your business can continue to function?
Small business owners are often considered irreplaceable, and without a contingency plan and supporting policies in place, both your family and your company are left financially vulnerable. The ROI Group has extensive experience working with business owners to establish a holistic plan for their life investment. Give us a call today and we can give you a quick assessment of your risk.
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