The need for life insurance in every family’s financial/security portfolio is important in order to protect potential lost income, to pay off mortgage debt, as well as provide education funds in the event of a breadwinner’s premature death. None of us want to have to think about this but it is certainly prudent to do so and actually provides peace of mind.

And what about this same need in the business world? If you own a business and/or are partner-owners,  life insurance provides a way to pay off debt if an owner dies prematurely. If you have a business partner, life insurance can act as a funding vehicle for Buy-Sell Agreements. It can also provide “key person” insurance coverage to help the business ensure a smooth transition if a valuable employee passes away.

Lastly, life insurance can help an employer reward key employees by purchasing or helping them to purchase life insurance for them to protect the employee’s family as part of their (employee) compensation package. This is often used in start-up companies to retain key employees until the business gets off the ground.

Whether it’s personal or business, or both, that you are interested in protecting, life insurance should always be a major building block of your financial security. Contact us for more information on life products available and to discuss options. Now is a good time because a number of life products have become more affordable!