Every successful business owner knows how important it is to keep it operational no matter what happens to them or their partners. To prevent any financial distress when you or a key person to the business passes away, you need to have business life insurance.

This cover works like any other life insurance type, only that it’s acquired by the business rather than a person. The aim to take it out is to protect the company, its owner and co-owners, assets, and employees.

In a nutshell, a business life insurance serves the following purposes in a co-owned business: Continue reading →