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Executive Order for Policyholder Payments
Running a small business means planning not just for growth, but for protection. While many owners focus on property, liability, and workers’ compensation coverage, life insurance for small business owners is often overlooked. Yet, it can play a critical role in safeguarding your company, your employees, and your family if the unexpected happens.
At Club Agency, we work closely with small businesses across the Northeast to help them make informed insurance decisions that support long-term stability. Let’s break down whether life insurance is something your business truly needs and how it can be structured to fit your goals.
Life insurance isn’t just about personal financial protection. When tied to a business, it can help prevent operational disruptions, protect partners, and ensure continuity.
If you are:
Life insurance can be a strategic financial tool, not just a safety net.
If a business owner or partner passes away, life insurance can provide immediate funds to:
Without this protection, surviving partners or family members may face difficult financial decisions.
For businesses with multiple owners, life insurance often funds a buy-sell agreement. This allows remaining partners to buy out the deceased owner’s share without draining company resources or taking on debt.
This type of planning helps avoid disputes and keeps ownership transitions clear and fair.
Some employees are critical to revenue, leadership, or operations. Key person life insurance helps a business recover financially if a vital team member passes away by covering:
Many lenders require life insurance as a condition for business loans. The policy ensures outstanding debts can be paid without burdening surviving family members or business partners.
For sole proprietors, life insurance can replace lost income for family members while allowing the business to be sold or transitioned properly instead of being shut down abruptly.
Term Life Insurance
Permanent Life Insurance
Choosing the right type depends on your business structure, budget, and future plans.
There’s no one-size-fits-all answer. Coverage often depends on:
An experienced insurance broker can help assess these factors and recommend appropriate coverage levels.
As an independent insurance brokerage, Club Agency compares multiple carriers to find solutions tailored to your business—not a single insurer’s agenda. We focus on:
Our goal is to help your business stay resilient through every stage.
Life insurance can be a cornerstone of your small business risk management strategy—but only if it’s designed correctly. Call Club Agency at (866) 784-9785 to discuss your business life insurance options with a knowledgeable advisor. Contact us today to protect your business, your partners, and your family with confidence.
