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Old 5th October 2019, 09:45 AM   #1
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Join Date: May 2010
Location: Detroit, MI
Posts: 1,368
Default Importance Of Life Insurance For Small Business Owners

As an owner of a small business, your nearest and dearest are not the only people who depend on you. If you die suddenly, this can have a devastating impact on your partners and owners who are left behind. The last thing you want is for all your hard work to go to waste, so here are a few reasons why you should take out life insurance.

Why You Need It

If you have a family to provide for, they will depend on your businessís income in order to live. You may also have taken out various loans which were backed up by your familyís assets in order to run or grow your company, however, should you die unexpectedly, your family members may not have the right knowledge or expertise to oversee your business. Whatís more, they may be unable to sell your company easily, which can result in them living without any income, or worse, they can potentially lose their property.

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