Whole Life vs. Term: Which is The Right One For Your Succession Plan?
When it comes to family business succession planning, cash at death to pay settlement costs and taxes is almost always more cost effective that any other method.
Which is better, term or whole life seems to be the question on both business owners and individuals lips. It is also the subject of numerous financial talk show experts and un-countable numbers of books and articles. Alas, it is the wrong question.
The right question is “which business insurance should I trust to help me sort out the best insurance solutions for me right now” because at the end of the day whether you should own whole life or term or a combination is a decision that should be based on what you want the insurance to do for you and when.
Of the many things that business insurance agents can do, one is to handle questions about whole life vs. term policies. This article looks at some of the differences between whole life and term – as well as discussing the vital role your business insurance agent plays in helping you make the best decisions possible, which is right for you when.
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Recommended Reading
- Family Business Estate Planners Understand the Management Succession Planning Process
- Succession Planning for the Financial Service Professional: Understanding the Value of Your …
- Talent Management and Succession Planning
- Family Business Growth Strategy
- Management Succession Planning Blueprint (ebook)
