This means that if you, the business owner, should die, the lender may claim both your business and the building; and can claim your personal assets that are not exempt. Also, if you die, the income from the business that helps to support your family may stop. If you die, would your family have the cash to cover your business debts and mortgage and have enough sufficient income on which to live?
A strategically prepared business life insurance policy may ensure continued family income and provide the funds to pay your business debts, while supporting your business through the initial months of your absence.
If you and your family have worked hard to run a successful business, having income protection insurance will help you keep it. If you aren’t able to work, your business could fail, meaning not only losing your salary, but your hard-earned business as well. Having your income protected might just save you from losing it all, so if your salary is the lynch pin in your family business, make sure it’s protected.
In the situation where only one of the parents is making money, income protection may be necessary to keep the family together. When the working parent can’t work because of sickness or injury, the other parent may be forced to take the kids to live with other family for a while. This situation can be devastating for a family unit, especially the children, so it’s important to prevent this from happening.
In times of a financial crisis, often the first thing to go is the roof over your head. It happens all too often that people lose their family home and are forced to downsize just because they became injured or sick. If you have income protection insurance you will still have your income coming in, so you won’t have to worry about losing anything.
If you ever encounter a serious health problem, income insurance can support you and your family, and the benefits are more than just having food on the table.
When considering your needs for insurance products for your home or business remember contacting Bennett Insurance Group is the right move. Give us a call at 623-979-4140
Presented By:
Jim Bennett
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com
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