Saturday, August 12, 2017

Delaware Business Insurance Update from CNC Insurance Associates Inc. " Business Owners Don't Forget to Insure Yourself" 8-12-17

You have built your business from the ground up.  You worked hard, and many hours without a day off have been the norm to get your business where it is today. You insure your buildings, equipment, autos, and employees,  however do you insure you ? The majority of business owners do not insure themselves. What happens to the business when something happens to you? Most business owners do not even think about this scenario. In reality most business will fail when the owner or "driver" dies or becomes disabled. It is only fair to the employees, vendors, and customers to make sure your business can go on without you. This can also apply to your best employees or managers that help your business run.
So what is the answer to this risk?  Life and disability insurance.  Key Man life and disability  insurance is a necessity for a business owner. You are the "Key Man" (or Woman) that make the business work,  so insure "you"!!  The premiums are deducted as an expense in most occasions and the policies are owned by the business. There are many options to put these policies in place and coordinating it with your financial planner is also a good idea. So talk with your insurance professional and discuss the options for life and disability insurance for you and the key men,  or women, in your business. Until next time be careful out there and know your risks.

G. Kevin Nemith President CNC Insurance Associates & The Business Insurance Center.
Serving DE. MD, PA, NJ, VA