Business owners have more assets and therefore face more liability than the average working person, putting them at greater financial risk. An asset protection plan can help you protect everything you’ve worked hard for by insulating both your personal and business assets with protective barriers, making it more difficult for creditors and other negative influences to threaten them.
When you list your assets, what are they? Do they include the greatest asset of them all? When it comes down to your business, the greatest asset you have is yourself; your ability to produce, bring value to your company and generate revenues now and in the future. How are you protecting you?
Imagine if something critical were to happen to you, or even a key employee/business partner, that took you, or them, out of the picture—Death—Divorce—Critical illness—Accident—Disability. These are life scenarios that can greatly limit the human capital potential in your company.
What implications would one of these scenarios have on your business and the bottom line, if left unprotected? Could your business survive? If something were to happen to you, or your spouse, how would you cope personally without the ability to generate an income and provide for your family?
Purchasing and putting in place the right types of insurance that focus on providing ‘living benefits’ such as personal and corporate-owned participating whole life insurance, serves as a protective buffer to guard your earning power and even the human capital of key employees/partners within your business.
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