Reasons for buying business life insurance:
Reasons for buying business life insurance:
Key Person Coverage (replaces loss of that person’s profitability)
Funding a buy-sell agreement
Indexed Universal Life
Indexed Universal Life
With an indexed universal life policy, you get equity building values that can supplement your retirement with tax-deferred growth and possible income tax-free loan withdrawals. Death benefits are income tax-free and no limit of years coverage.
Term insurance also has lower level premiums and level coverage, but lacking in equity-building and has a limited time of coverage (10-30 years.)