Operating Line or Lease Payment Protection

Operating Line or Lease Payment Protection

  • Client Profile
    • Business owner with lease payments, operating line of credit, etc.
    • Concerned with maintaining business in the event of short term illness, so as to be able to return to business upon recovery, or to preserve value for sale
  • Solution Opportunity
    • Offset a number of month’s of lease payments or interest payments with a term critical illness policy and/or life insurance.
    • Policy will pay in the event of qualified illness or death, allowing for business to persevere.
    • If life insurance is used, where the interest on the loan is deductible and the lender has required insurance collateral, the cost of the insurance may also be deductible.
    • Unlike creditor insurance, private insurance allows the business owner to actually own and control the insurance, as opposed to the bank.
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Posted ON Tue, May 18, 2021 at 4:38:10 pm MDT    Comments (0)
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