Small Business Owners and Insurance


Since I have been an accountant for over 30 years, and during that time, I have had several clients that have passed away. They owned businesses and (in too many cases) our client did not have any life insurance. This left their family needing to sell the house and move in to a small apartment while the spouse had to return to work to take care of the family and cover numerous monster bills. Which with burial/funeral expenses and loss of income resulted in the spouse and family in a bad position and several of these spouses needing to file bankruptcy, and then live a life that was greatly reduced thereafter.

NOTE: We do not sell any insurance, we are only asking to prevent huge issues for you and your family later. We have a trusted Life Insurance agent (Larry Loft) who can help. We will assist you in this matter to make sure you can provide for your spouse and family in the event of your death (or the death of your spouse, since if possible both spouse should be covered).

Medicare provides

a Death/Funeral Benefit of only $255.00!

Type of Life Insurance: Whole Life, Universal Life and Term Insurance (are the general three types of general coverage), with my professional comments noted below.

A. Whole Life is normally “Very Expensive Monthly or Yearly” with low total payout benefit.

B. Universal Life has the high cost and a few additional benefits (better than whole, but not much).

C. Term Life Insurance policy which provides the highest benefit with the lowest dollar cost.

For the last 20 years I had a Term Life Insurance Policy to provide in the event of my death, and in July I will renew to a new policy to cover costs for my beloved wife. My professional accountant’s opinion is to have enough insurance to cover paying off your home and provide yearly income for spouse and family for as long as possible.

As you and I grow older the cost of the insurance greatly increases, so buying a policy when you are younger can be low cost and very “reasonable”.

My original policy cost was $400.00 a year for $250,000 of coverage ($33.33 per month)!

If you do not have Life Insurance or are interested, call the office and we will bring in our agent Larry Loft to meet with you to discuss the benefits and cost of coverage for you and your family. The cost can be very low and reasonable verses the position of leaving your spouse and family without coverage, and loss of income. Please understand this is important to you (and us), since after a death, one of the first phone call is to the accountant asking for help, and nothing is worse to find out there was no life insurance!

Please Consider “Protecting the ones you love”.