The most effective way to protect your family's financial future is with life insurance. But you probably know that already. Most people would agree that life insurance is a very important product to own.
Which question is more important: "Why did this happen?" or "What can be done about it?"
If you're a business owner, you have probably given some thought to your need for life insurance. Business owners have a more complex life insurance need than non-business owners. And what you don't know could have a very negative impact on those left behind after your death. The number one thing that can jeopardize the business you have built is the lack of a succession of ownership plan upon your death. Although it's not the only issue to be addressed, life insurance can play a critical role in the transition of ownership.
We’ve all done it. We look at our bank account balance and wonder where all the money went! You weren’t robbed, but you feel broke. That’s when you start really looking at your budget. You’re trying to find where you can get leaner and more fiscally fit. All the usual suspects are investigated: cable company, cell phone plan, and eating out.
If you're a restaurant owner looking to expand, a food truck is an interesting option. It is one of the fastest-growing segments of the restaurant industry. A food truck would allow you to introduce your restaurant to parts of town that typically do not frequent your physical location.
What is the most important question your insurance agent should ask? Answer: "Do you have life insurance?" Here's a common response I get when I ask someone if they have life insurance: "I have life insurance at my job, so I don't need an additional policy."
Restaurant owners have a wide range of issues to address and control before they ever turn over the open sign in the morning. One issue that is overlooked or often rushed is having insurance tailored for their type of restaurant. Fast food, casual dining, or fine dining are all restaurants, but the insurance needs are not the same.
There are many issues a small business owner has to juggle. The cost of employee salary and taxes is the largest expense. Finding and retaining good people for your team is one of the hardest to nail down. A small operation can't offer the same financial compensation package a larger company can.
When you’re shopping for insurance, there are really only two ways to purchase. You can buy it through an agency or you can buy it directly from an insurance company either online or over the phone. There are pros and cons to both options. Shopping for insurance is not something people look forward to, right? Insurance is one of those invisible products that usually fails to deliver a sense of satisfaction. You’re buying a promise and hopefully the peace of mind that what you just paid for is what you think it is.
Does your business look the same now as it did when you started it? Have you added services? Has your business evolved into something quite different than what you started it to be? For example, you started a plumbing business as a one-man show. But now you do kitchen and bathroom remodeling, too. If so, your insurance policy designed for a plumber likely has huge gaps in coverage for the other things you do.
