Small Business Insurance Essentials
Do you know which types of small business insurance you need to protect yourself, your family and your business?
What about where to find them, how much coverage you need or what price is reasonable? Keep reading for the answers.
Whether you call yourself a small business owner, an independent contractor or a freelancer, you enjoy independence that many employees envy.
But when it comes to responsibilities like securing insurance, you might be jealous of your regularly employed friends.
Health Insurance for Small Business
Your ability to work is your most valuable asset. A good health insurance policy for a small business has premiums, deductibles and cost sharing that encourage you to get screenings when you’re healthy and treatment when you’re not.
Disability Insurance
Illness is the most common cause of long-term disabilities that keep small business owners from working, but accidents are a big risk, too. A disability policy can help you cover business, living and medical expenses far more effectively than government programs.
Life Insurance
Life insurance doesn’t just cover funeral costs. A good life insurance policy for a small business owner can also:
- Cover your family’s living expenses.
- Pay off business and personal debts.
- Keep your business running.
It’s a great idea to buy as much coverage as you can afford, as early as you can do it. Premiums increase with age, and the sooner you get coverage, the cheaper it will be each month.
Additional Policies to Consider
Key Person Life Insurance: This coverage pays your small business a death benefit if a crucial team member passes away. The money can help recruit and train a replacement.
Buy-Sell Agreements: These provide life insurance benefits for your small business to buy your ownership stake from your heirs. They’ll enjoy the financial value you’ve built up but won’t have to run your business or find a buyer.
Quality Choice Insurance Agency Can Help you Navigate Your Choices for Small Business Insurance and Make the Best Decisions!
You’re already busy – as a small business owner, you wear so many hats already! Insurance options can be overwhelming, but that’s where we can help!. We’ll do the heavy lifting for you — at no additional cost.
Let’s discuss your circumstances and how we can help.
