Business Life Insurance Archives

Business Life Insurance

What is Buy-sell Agreement Life Insurance and How to Get It

Businesses often need to find different ways to protect themselves, and sometimes, that something that can help is life insurance. Let’s dive into what a buy-sell agreement is and how to get one. What is a buy-sell agreement life insurance? A buy-sell agreement life insurance is a legally binding agreement between business owners which requires…

What Requirements do Life Insurance Companies Have?

All life insurance companies have requirements, which are usually similar. Below is a further explanation of these requirements. Insurable Interest and Insurable Person Simply put, an insurable interest exists in life insurance if a person gets any type of benefit, including the financial benefit from the continued existence of the insured individual. This means that…

Business Uses for Life Insurance, When and Why You May Need It

Businesses, just like individuals, need life insurance. Most business owners don’t know how vital life insurance is or how they can use it to the benefit of their businesses, and that is why they don’t set up insurance plans. A business is a huge risk, especially if you have spent your life savings to start…

Life Insurance for Executives and Business Professionals

Growing and nurturing a startup into a big business can take months, if not years. Also, a business that took years to build can end in a blink of an eye. Any executive with a handful of experience is a gem to a company, and especially if they are responsible for most of the success…

Business Life Insurance Guide for Getting Coverage

Businesses, just like humans, need protection from uncertainties that might come into being along the way. For that reason, life insurance is not all about protecting humans. Instead, these types of policies go a long way in ensuring the smooth running of businesses amidst uncertainties. Business life insurance is a protective layer designed to protect…

Collateral Assignment Life Insurance Guide

Before delving further into finer details about collateral assignment, you need to understand what it is. What is a collateral assignment? This is a conditional assignment where a borrower allows their lender to receive proceeds from his/her insurance policy as a means of repaying a loan. When you borrow a loan from a bank or…

Life Insurance for the Wealthy, Reasons to Get Coverage

Many people use life insurance for the wealth as an investment, risk cover of life uncertainties and happenings protect assets, management of wealth and creation of wealth. Life insurance is used for savings by wealthy people to put their savings on life insurance to cover for risks that they have insured. The wealthy people take…

Key Person Life Insurance, What You Need to Know

Insurance has become part of our lives, whether for business or personal level. With the right policy, you can be able to protect your loved ones, yourself, and your business. This is likely to give you total peace of mind when you know that you are ready for any situation that may arise. Key person…

Business Partnership Life Insurance, Why Get It and What to Get

If you’re in a business partnership, you already have a lot on your plate. You have to manage a business, a team of employees, and keep your clients happy. This can take up a lot of your time and energy. Unfortunately, it’s likely that you overlooked life insurance. Your business partnership needs life insurance just…