Why is Buy-Sell Insurance Critical to Your Business’ Success and Continuity?

buy sell insurance

I always ask business owners if they have buy-sell insurance or partnership insurance. Surprisingly, about 50% of them didn’t know what it was, let alone possess it. When I asked if they had a Partnership Agreement in place, most answered, of course. Some were more formalized than others, but most saw the importance behind having a partnership agreement. Then, I … Read More

The 8 Things You Can Do to Ensure Your Business Survives Divorce (#7 is just Nasty)

ensure your business survives a divorce

Since the beginning of COVID, a few business owners have asked me what measures they should take to divorce-proof their business. I think the more appropriate question is how to divorce-ready your business. Similar to the assets of a marriage, a company’s assets are considered mutually owned within a marriage. The complexity of a business can be far more challenging … Read More

Why Using Private Medical Clinics May Cost you More for Life Insurance

private medical clinic

Using Private Medical Clinics May Cost you More for Life Insurance. If you use a private medical clinic –  like Medcan, Medisys or The Cleveland Clinic –  it may cost you more for life insurance. In some cases, it may cause a postponed decision or an outright decline by an insurance carrier.  This may not seem significant to some, but … Read More

8 Clever Uses of Life Insurance by Business Owners

Life insurance

Not many people say they love buying or the process of buying life insurance.  Who wants to discuss the eventual demise of oneself?  There are certain situations which are reliant upon life insurance to create an insurgency of cash into a business when weathering the loss of a business owner.  There are, however, clever uses of life insurance by business … Read More

4 Key Things to Consider When Building Business Owner Wealth

business owner wealth

The Keys To Building Business Owner Wealth You’ve built a thriving and successful business. You continue to be profitable and continue to reinvest into your business while building wealth for your eventual retirement. You have a succession plan in place and a plan to exit the business at some point over the next 15 years. The plan is to work … Read More

5 Types of Business Risk Every Business Owner Should Absolutely Prepare For

Benefit Plan a Liability To Your Company

Ignoring Business Risks Could Mean Disaster for Your Family, Your Retirement, Your Business and Your Employees As business owners, we expect and accept a certain amount of risk.  If there weren’t any risk, then everyone would go into business for themselves.  Like in life as in running a business, there are smart risks, calculated risks and completely random risks.  Some … Read More

What are the 6 Things I Need Business Protection Insurance for?

Business owner benefit plans

Reduce Business Risks by Implementing Business Protection Insurance for Management Team and Key People As Business Owners, we all assume certain business risks.  In my discussions with business owners, I’m astounded by the types of business risks that some owners are willing to make.  Ironically, none of these individuals I would consider stupid, overly aggressive or brazen.  Some of these … Read More