Do you have a business succession plan in place to protect your business?
Business insuance and business succession planning is an important part of any contingency plan for a small to medium size business. Having this plan ensures the key people in the business are covered in the case of death, disablement or a traumatic event, to ensure that the business can continue running at an appropriate level.
Business insurance is a legitimate business cost. The company will always be funding the premium, but what this does is ensure that at a particular point in time after a trigger event, the right amount of funds will be available to the business. The funds will usually be used for either general revenue or help pay off a capital expense. For businesses it is extremely important to have this type of insurance to ensure the business can continue to be running a profitable state.
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