You, as a business owner, may need a bank loan to run the business. Your bank may require your business to purchase collateral life insurance to protect its interests.

 

In other cases, you may simply want to ensure that, if you die, business loans will be fully repaid to minimize the financial risks for heirs and to allow your business to continue free of debt.

 

A business owned life insurance policy can repay business debts with tax-free life insurance proceeds and prevent your family from becoming personally liable for the business debts if you die unexpectedly.

 

We can help you identify your risk protection plan needs for business loans.