Life Insurance for business partners provides the peace of mind that comes with knowing the company will have the breathing space it needs to rethink its direction or initiate new training if the worst should happen to a key person. Most businesses will have taken out some form of insurance policy in the equipment they rely on, so it makes sense to extend the insurance cover to the key people that are relied upon as well.
This kind of life insurance for business partners and other key team members can be used by the company for a number of things:
- Offsetting lost income from a drop in sales or delays and cancellations to projects
- Making sure that business loans remain guaranteed
- Providing the funds for temporary workers, recruitment drives and training
- Protecting the interests of shareholders or partners
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