2 reasons any entrepreneur should consider getting life insurance
October 16, 2019 by Anna Baluch
When the phrase “life insurance” comes to mind, we often think of protecting our families. Most of us have been taught that life insurance is important, especially if you have a family, as it can ensure your spouse and/or children are cared for in the event you pass away.
But what about life insurance to protect your business? If you’re a small-business owner, there are two other reasons it might be worth considering.
Life insurance can provide collateral for a small-business loan
Melbourne O’Banion, CEO of Bestow, an online term life insurance company, says that life insurance can help get a business up and running. “Any type of life insurance policy can be used to provide collateral to lenders so that small-business owners can secure small-business loans,” says O’Banion.
Click HERE to read the full story via Business Insider.
