How do I protect my business if I die or become disabled in Green Valley, Arizona?

Owning your own business offers you a lot of flexibility in your lifestyle. You can work when, where, and how you want. But, what would happen in the event of your death or a serious disability?

There are two types of insurance policies that every small business owner should consider purchasing: life and disability.

Life insurance is designed to protect your assets after your death. Having a policy could help your business operate until it is either sold or a replacement for you is found. This can often take weeks or months, so having a policy is important. This type of insurance can also help cover any debts owed by the business, which would be passed on to your family after your death. Life insurance can also help a your family pay for everyday expenses that are no longer covered by the income from your company.

Disability insurance is available in short term and long term policies. This type of insurance is similar to life insurance, but different in that it pays out if you are seriously ill or injured and unable to work. Funds from this type of policy can be used to help run the business or take care of everyday expenses.

As you can see, both insurance policy types are incredibly important. Each business owner will have different needs in terms of the amounts of each policy, which an independent agent can help you decide.

As your local independent agent, we would be happy to speak with you about your business insurance and other commercial insurance needs. Tucson, Sahuarita, Green Valley, and other Southern Arizona business owners can contact us via telephone today.