Life Insurance for Business Owners and Families

It depends on what the coverage needs to do. For a family, a common starting point is about 10 times your yearly income plus your mortgage and other debts. For a business, coverage is usually based on the value of an owner's share, a loan balance or the cost of replacing a key person. We help you add it up without buying more than you need.

It's a policy the business owns on someone it can't easily replace, such as an owner, top producer or licensed professional. If that person dies, the business receives the benefit to cover payroll and debt, keep clients and staff, or recruit a replacement.

When a loan depends on one or two owners, lenders often require life insurance with a collateral assignment that pays the lender first, up to the balance owed. We help set up the right amount and get the paperwork to your lender so it doesn't hold up closing.

Not always. Many applicants qualify without a medical exam, and some carriers can give an instant decision. Depending on your age, health and the amount of coverage, a carrier may ask for an exam, and we'll tell you what to expect.

Term life covers a set number of years and usually costs the least for the most coverage, which makes it a good fit for income replacement and mortgages. Permanent life lasts your whole life and some policies build cash value, but it costs more. Schedule an appointment with Lee to talk through which one fits your goals.