Meiers Lombardini Lemanski Insurance Blog

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Get A Life...Insurance Policy for Your Business!!

                                                        Get A Life...Insurance Policy for Your Business!!  

Do you own your own business? If you do...KEEP READING! Do you know someone who does?....KEEP READING!  

September is Life Insurance Awareness month! We are on a mission to educate as many people as possible this month about various scenarios where people needed life insurance and may not have had ENOUGH!   

Business owners we know that you probably have life insurance for your spouse and your kids.  Do you have it on yourself, your partner(s) and/or a key employee?  What happens if anyone of those people including you were to die suddenly/unexpectedly?  What would you do?  What would your business do?  What would happen to your employees?  Would your business have to shut down?  Would your employees have to find another place to work?  What about the vendors that you work closely with?  What about your community? These are just a few things that you need to consider.   

No one wants to think about dying but when you own your own business a lot of people depend on you not just your family, your partners, your employees, but your customers, vendors and your community!  

Life insurance is a fantastic way to protect those that depend on you in a number of ways.  Key person insurance which is payable to the business gives owners flexibility to hire a replacement in the event of your death or work out other arrangements instead of leaving your partners scrambling to figure out the next step.    

A buy-sell agreement can also be structured using life insurance to fund it so that your business can continue on with minimum interruptions to the organizational structure. There are others ways as well but these are the two main arrangements.   

Our partnership with Keystone provides us with a large number of life insurance markets to give you and your business the options and education on how to move forward.  Contact us 517-351-9117.  #teammllins