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5 Questions Savvy Business Owners Need to Ask Themselves about Life Insurance

By September 16, 2016 September 13th, 2019 No Comments

Most discussions about life insurance are focused on spouses and children not businesses.  Your business together with your employees and customers are your second family.  If you are a savvy business owner these are the top 5 questions you should not just ask yourself but take the steps to have an answer for:

  1. Will my business survive if I die?
  2. What will happen to my key employees if I am not there to drive sales?
  3. If you have a business partner would she like to be in business with your spouse if you die?
  4. Would my family be able to sell my business if I die for a fair market price?
  5. When I retire will a buyer have enough cash to purchase my business from me?

If you don’t know the answer to 1 or more of these questions you are not alone.  Most small business owners haven’t thought through any kind of an exit strategy.  Failing to plan is leaving the financial stability of your company to chance.

All of these questions can be resolved with life insurance.  There are many different ways to fund business agreements to ensure your business legacy will live on and your family will get the financial benefit of your many years of hard work if you suddenly die.  Give O’Connor Insurance a call today to start the discussion and financially secure your business 704-510-8884.