Small businesses can be harder hit when overcoming the death or disability of an owner or key employee, as they may not have the back-up personnel in place that a larger corporation might. So it may be wise to ask yourself: "Can my company survive without me?"
Protect your financial commitments with loan, mortgage, and line of credit life and disability insurance.
Credit insurance secures your business' ongoing financial viability. This insurance makes sense when your debt causes an increased risk of financial loss and when your business debts are higher than your existing insurance.
You may also want to consider insurance if you have business partners. Insurance allows you to have the ability to purchase the business shares from the estate of a deceased partner.