Life insurance policies for business partners in Prescott are crucial. Adler Insurance explains why…

The death of a business owner can be one of the hardest events for a small business to work through. Besides the personal loss, there’s the practical loss of a key asset and the question of ownership going forward.  Adler Insurance explains why having life policies in place for all partners of your business in Prescott is important.

1.     A life insurance payout can provide operating cash to get the company through a tough time.

2.    It can also help the surviving owners buy a late partner’s share from his or her heirs.

3.    It may be hard to qualify for an additional business loan with one partner gone.

4.    Without a life policy to fund a buy out, you might find yourself partnering with your late partner’s kids.

5.    It is important to pick a policy that will cover the time you need it for.

6.    It is a good rule of thumb to purchase more life insurance coverage than you
think you might need.

7.     Your policy premiums can be expensed from the business.


If you have one partner or a few, you can see that life insurance policies on all partners involved is highly recommended. 

We hope you found this information helpful.  Adler Insurance would love to assist you in making your Life Insurance decisions in Prescott.  Please don’t hesitate to call 928-710-1455 or visit our website at http://www.AdlerLifeHealth.com today!

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Why single parents need life insurance

Life insurance is a must have for many people but it’s especially important if you’re raising children on your own. Americans struggling with their finances in today's downtrodden economy may think they can save money by skimping on life insurance. Almost 70% of single parents don’t have life insurance. Adler Insurance suggests you consider these three things to help you figure out how much life insurance you need.

1. Life insurance provides your family with an additional source of income in case something happens to you. If you have children, it is recommended to get coverage the equivalent of eight or nine times the gross annual household income.

2. Having life insurance as a single parent isn’t enough because you also need to know what it’s going to be used for. This depends on how old your children are and what would happen to them if you died before they reached adulthood. You might require additional coverage if your guardian doesn’t make enough to cover the additional expense of raising your kids.

3. When you die, the executor of your estate is responsible for determining your debts and using any assets you have to pay them off. If you’re still paying off student loans or other debts, your creditors could go after your life insurance monies before your beneficiaries receive any funds. If you owe thousands of dollars, you might need to increase your life insurance to cover all your debts.

Americans struggling with their finances in today's downtrodden economy may think they can save money by skimping on life insurance. Approximately 30 percent of U.S. households have no life insurance coverage and among households with children under 18, over 11 million have no coverage. Approximately 30 percent of U.S. households have no life insurance coverage and among households with children under 18, over 11 million have no coverage.

Check your policy and review it with your Adler Insurance if you’re not sure it’s accurate or you have what you need. We can answer all your questions and ensure you have adequate coverage to take care of your loved ones. Give us a call at  928-710-1455 or visit us on online at http://www.adlerlifehealth.com.

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Life Insurance in Prescott
Prescott Independent Insurance Broker
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