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Owning your own business means you will have considerations different from those who work under an employer’s auspices. As such, obtaining a life insurance policy can help ensure the longevity of your business, providing ongoing income for your beneficiaries.
During the transition period, it is easy to slip into fiscal disorganization as roles shift and a successor takes over operations. Your indemnification can help smooth over the difficulties by ensuring sufficient capital to continue making sure key individuals are adequately compensated.
While there is no governmental requirement that Dallas, TX residents obtain life insurance, it is an essential part of estate planning that your Alloy Insurance Partners agent can tailor to suit your needs. Such protection can alleviate the stress of financing immediate expenses, such as burial and legal necessities.
Your dependents likely won’t benefit from a pension or 401K, and they may be required to pay outstanding accounts related to your company and may need to settle on real estate negotiations. There may be shares that your beneficiaries wish to acquire in a buy-sell agreement. Personal housing and other debts can also come from your life insurance settlement.
It’s vital that those who depend on you be able to establish themselves as independent of the business if that is what they want. An insurance policy gives them leverage to not rely on board members or shareholders to make decisions for them and protects them from being taken advantage of.
Alloy Insurance Partners work hard to ensure Dallas, TX residents have access to the indemnification products they need. We look forward to doing business with you and invite you to contact us with any questions you may have.
