What if someone essential to the business died?
Key person life insurance can help the business manage the financial impact of losing an insured owner or employee. Consider it when important revenue, skills or customer relationships depend on one person. Explore key person insurance.

What if a co-owner died and their share needed to be purchased?
Life insurance may help fund a buy-sell agreement. It can be relevant to partners, family businesses and owners reviewing an older agreement. Your attorney defines the transfer terms; insurance addresses possible funding after a covered death. Explore buy-sell funding.

Could you need both? Possibly. Replacing lost business income and buying an ownership interest are different needs. Review the purposes, amounts, policy owners and beneficiaries separately.

Not sure where to begin? Tell Anil who owns the business, who it depends on and whether an agreement or coverage already exists. You do not need every answer to start.

Anil Khanchandani is a licensed life and health insurance producer offering options where he is licensed and appointed. He receives carrier commissions and charges no consultation or service fees. Your attorney and CPA provide legal, tax and valuation advice. Coverage is subject to underwriting and policy terms; an inquiry does not bind coverage. A death benefit does not automatically fund disability, retirement or a voluntary exit.