The Greatest Secret Value for Business Owners
What is the greatest “secret” value you can invest in?
Business Income Protection through Life and Long-Term Care Insurance
As an independent insurance agent, I have heard every excuse and reason for delaying obtaining insurance.
Some prime examples:
It’s too expensive.
It’s not the right time – maybe down the road.
There are better policies than what you're offering.
I’ll borrow if I have to.
My attorney and CPA already have me in a great position so insurance isn’t necessary for me.
People really believe these are accurate and acceptable reasons not to even explore their insurance options.
The reason I have been successful over my 50 years in insurance is that I know that no amount of borrowing, saving for a rainy day or other professional financial advice can come close to the great value insurance provides, guaranteed.
As an insurance professional and the owner of an independent insurance agency, I use a series of questions to help you qualify for the right amount of protection that is affordable, meets your needs as you see fit, and will take into account your current health.
Let's focus on income, asset and estate protection. Before we mention the potential for significant tax advantages, here are a few basic facts to consider:
Your business needs capital to start up and operate. What sources do you have and what is the dollar amount? Do you know what to pay yourself or what you need to cover your basics? How much is the rent if you have a commercial space?
If you do borrow from a commercial lender, expect about 6.5 % interest rate on average, assuming you have good credit and financial resources.
Let's say you take out a loan. Here is a very sobering fact to consider: most businesses fail due to an unexpected major illness or death!
Based on your income, paying 3-5% for disability insurance, another 3-5% for life insurance, isn't that worth it to you so you don’t have to borrow, wait, wonder if you’re making the right decision.
Many articles recently have highlighted that most people need long term care at some point in life, care which becomes very expensive. I will design an affordable long term care insurance plan that will protect your home, your major savings, and lifestyle. In almost all cases, less than 10% of your income would be needed. Far better to be properly insured than needlessly losing your home, savings and lifestyle to a long-term illness or injury.
Everyone is different! Don’t try to compare yourself with your neighbor, coworker, or other occupation such as yours. I tailor make coverage to fit YOU!
My goal is to take the worry and stress out of the process, to explain what you need to meet your business and personal goals.
Call me today!