There is inevitability in life – death. Your business can be adversely affected by the passing of you, your partner and even a key employee. A comprehensive insurance plan can mitigate the stress and financial burden placed on you, your company and your heirs.
Upon the death of a partner , their portion of the company often transfers to the heirs who may not have the will, or experience, to participate in the operation of the business. They may wish to cash in their inheritance which could necessitate the liquidation of company. Partnership insurance, to the value of the assets controlled by each partner, could pay out the heirs and keep the company in your control.
Key Man Insurance
Your company may have one or two employees whose work is critical to the success of your business. Their loss may seriously affect the profitability of your company until they are effectively replaced. Key man insurance can provide the financial bridge necessary to keep your company profitable while in transition.
The future of your company should be in your hands not those of the tax man and accountants. Taking the time to plan today for what tomorrow may bring will mean a more predictable and positive result when it comes time to turn your company over to family, employees or investors.
Pre-planning to cover all the bases can eliminate the stress associated with a company transfer, particularly if it occurs through unforeseen circumstances.
Jack Insurance can help you carefully consider all the options today so there is no need to make hurried decisions at a critical time in the future.
If you truly wish to “rest in peace”, assure yourself that your family will be well-provided-for after you are gone. Whole Life, Term Insurance and Accidental Death Insurance are the best vehicles for securing your family’s future.