5 Questions Savvy Business Owners Need to Ask Themselves about Life Insurance
16 September 2016

Most discussions about life insurance are focused on spouses and children not businesses.  Your business together with your employees and customers are your second family.  If you are a savvy business owner these are the top 5 questions you should not just ask yourself but take the steps to have an answer for:

  1. Will my business survive if I die?
  2. What will happen to my key employees if I am not there to drive sales?
  3. If you have a business partner would she like to be in business with your spouse if you die?
  4. Would my family be able to sell my business if I die for a fair market price?
  5. When I retire will a buyer have enough cash to purchase my business from me?

If you don’t know the answer to 1 or more of these questions you are not alone.  Most small business owners haven’t thought through any kind of an exit strategy.  Failing to plan is leaving the financial stability of your company to chance.

All of these questions can be resolved with life insurance.  There are many different ways to fund business agreements to ensure your business legacy will live on and your family will get the financial benefit of your many years of hard work if you suddenly die.  Give O’Connor Insurance a call today to start the discussion and financially secure your business 704-510-8884.

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President

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O’Connor Insurance Associates is fully licensed to provide personal and commercial insurance solutions for individuals, families and businesses across North Carolina.

We proudly serve families and business owners from our office in Charlotte, North Carolina. As an independent, family-owned agency since 2000, our team works with more than one insurance company to make sure homeowners, drivers, contractors, landscapers, small businesses and other personal and commercial clients receive coverage that fits their real risks.

About the Author

President & Founder

I’m Terry O’Connor, President and Founder of O’Connor Insurance Associates. I grew up in Pennsylvania, earned my bachelor’s degree at Edinboro University and my master’s at Gannon University, and in 1998 I traded snow for sunshine and moved to Charlotte. In January 2000, I started this agency on my own because I wanted to help people protect what matters most to them. More than two decades later, we’ve grown into an independent agency serving families and businesses across North Carolina, and we’ve been recognized as an IIABA Best Practices Agency every year since 2010, a distinction held by fewer than 1% of agencies nationwide.

I’ve seen firsthand how the right protection can change a family’s or a business owner’s life, and that’s why I lead with empathy, education and honest advice. As an independent agent, I work for you, not for one insurance company. I take the time to explain your options in plain language, and when you call our office, you reach a real person who knows your account.

Outside the office, you’ll usually find me outdoors hunting or fishing, or on the mat coaching wrestling as an assistant varsity coach at Mallard Creek High School. I’m also a proud supporter of the arts, usually in the front row cheering on my daughter in local theater productions. I’d be glad to review your coverage with you. Call me at 704-510-8884 or email terry@oianc.com.

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