Business Overhead Expense

The death of a partner or major stockholder in a business can have devastating effects on both the business, and the deceased partner’s surviving family. On one hand, the business is concerned with gaining control of the deceased partner’s share of the business at a fair price in order to continue operations without interference from the surviving family members. On the other hand, family members of the deceased are concerned with receiving capital for their interest in the business. This might also serve as the capital for estate settlement purposes.

Income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial security (e.g. planning for your children’s education or for retirement). Just think what might happen if you suddenly lost your income stream through a long-term illness or disability.

Long-term care and disability insurance products help protect your ability to earn an income, which can be affected if you are afflicted by a disability or other condition.

I can help you choose the long-term care and disability insurance products that provide advantages like:

  • Helping maintain your financial independence, lifestyle and long-term financial security plan in the event your income is impacted by disability
  • Assist with paying fixed expenses for your business if you become disabled
  • Support the buy-out of a disabled partner’s share of a business