Business Continuation Insurance
If you die, can your business continue to function until it is sold at its true value? If not, an immediate sale could take place, at a large discount. With proper actions, an owner can help the Company retain its value after death until a well-organized sale can take place. To maximize the sales price from such a sale and the related cash available to your family, consider buying "business continuation insurance". This is simply life insurance in an amount sufficient to provide the necessary cash to keep the business doors open until the business can be sold at its fair market value, instead of at a "fire-sale" price. This insurance can be inexpensive term insurance.