Coverage Options For Business Owners

Jack Nachtrab Life Insurance Consultant
Jack Nachtrab life
Insurance Consultant

As tax season rolls along, many business owners are evaluating financials and the state of their business. Now is a great time to discuss the unique planning opportunities for business owners when it comes to Life, DI, and LTC insurance. Here are some areas to discuss with your business owner clients-

Key person life insurance: Review the key/specialized members of their operation and ask about the financial impact on the business if something were to happen to those employees

Buy/sell life insurance: If the business has multiple owners, discuss the plan for the other owners to buy out the shares if an owner were to pass away

Executive benefit life insurance: If they have high performing individuals who the business wants to reward and retain, offering life insurance as an additional compensation benefit is an option

Disability overhead expense: If the business owner is unable to work, will their fixed overhead expenses still be covered? There are disability policies designed to cover monthly expenses if the owner is unable to work

Long term care- A portion of LTC premiums paid can be deducted by some business owners and policies can become paid-up as an executive benefit.

Contact the experts at Wholehan Marketing today to discuss the coverage opportunities available to your business clients!

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