Did you know that September, is “Life Insurance Awareness Month”? As a small business owner, it’s important for you to understand the life insurance options that are available to you. It’s equally important to not only carry a life insurance policy for your business, but to also carry one personally.
Check out these 3 reasons The Bailey Group has identified on why you need life insurance for personal and for business.
Protect Your Family
If you don’t currently have personal life insurance, you could be putting your entire family at financial risk. Life insurance can allow your family to cover any costs surrounding your death as well as maintain their state of living.
Protect Your Business
In the case that something happens to you, do you know what will happen to your business? As a business owner, you should speak to a financial professional about having a succession plan. TBG can help you identify what type of insurance and documents you need to have in place and determine who inherits your business, its assets and liabilities.
Cover Your Debt
If you have outstanding debt of any sort, someone else may become personally responsible for those liabilities. Having a personal insurance policy can provide the financial resources to make sure that your financial debts are covered.
Understanding your insurance needs, the different types of insurance plans, and what insurance options are available to you, is one of the most important parts of being a small business owner.
Contact us today to learn more ways our team at TBG can help you grow!
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