Business Succession Planning
Business succession and life insurance are closely related because life insurance can provide the necessary funds to facilitate a smooth transition of ownership and management in a business when an owner or key employee passes away. Planning for business succession through life insurance allows business owners to proactively address potential challenges, minimize financial risks, and ensure the long-term viability and success of the business. It provides peace of mind and protects the interests of all stakeholders involved while ensuring security during smooth ownership transition, preservation of value, and tax planning and equalization.