Life insurance for business partners provides continuity for business

LOS ANGELES, CA – May 10, 2020 – If you are partners in a business, what is the plan of succession? If something happens to a partner, how is continuity handled? Life insurance for a business partner from Susana Zinn, can help smooth the process.
A life insurance policy provides a financial cushion for a business when a partner dies. That money can be used to cover any kind of bills while the other partner or partners decide how to proceed.
“It’s life insurance but it is a bit different than a personal life insurance policy,” Ms. Zinn said. “The business policy is mined at protecting the company. A personal policy is there for family members. While family and business partners may be the same people, the policies are designed to work differently,” she said.
When a business partner dies, all the things that personal handled now have to go to someone else. The life insurance policy gives the business operating capital while other partner or partners try to handle the unexpected load.
“Another thing about business life insurance is that it can cover serious injury or illness. This is not a part of all policies, but it is an option in some. It’s something a business should consider if the partners do not have some sort of disability coverage in place,” she said.
Business life insurance comes in three different basic policies:
• Key person. This is insurance on the person who is most critical to the company’s operations.
• Buy/Sell. This covers how business equity is transferred after the death of a partner. This is one of the more detailed policies and has several subsections that need detailed study, Ms. Zinn said.
• Business expense: This is a policy to provide operating capital after the death of a partner. It is usually used by small companies.
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Contact: Susana Zinn
Company: Susana Zinn – Independent Life Insurance Agent
Address: 610 Montecito Dr., Los Angeles, CA 90031
Contact Number: (714) 729-3616
Email: info@susyzinn.com
Website: www.susyzinn.com

If you are in business, you need business life insurance. Suzy Zinn is ready to discuss why and how a policy will make sure your business keeps going after you are gone. For more information or to have Ms. Zinn start a search for the perfect policy for you, call (714) 729-3616 or visit www.susyzinn.com .

This release was published on openPR.