Sunshine Advisor Encourage Businesses to Consider Monetary Advantage of Purchasing Life Insurance

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In the wake of a September 4th Forbes article, titled “A Different Twist on Cash Management: Life Insurance”, Sunshine Advisor encouraged business owners to consider life insurance as a means of money management.

Sunshine Advisor encouraged business owners to purchase life insurance as an investment in their employees, and an alternative method of managing their money. This came on the heels of a September 4th Forbes article. The article, titled “A Different Twist on Cash Management: Life Insurance”, discussed life insurance and its ability to act as a money management tool in business. This includes purchasing life insurance for employees, and the heads of the company both. Sunshine Advisor encouraged business to consider this form of money management.

Steve Parrish wrote, in the abovementioned article, about using life insurance as a method of money management in business. Parrish acknowledged that life insurance is typically only thought of as a tool for the families of the insured. However, businesses may be able to utilize life insurance policies as well, both for the business’ employees and its higher-ups. Life insurance for a company’s executives may relieve some of the financial strain brought on by the loss of a key player in the company’s structure. For lower-level employees, life insurance may also serve to fill the void left by an employee’s absence, and relieve some of the financial strain associated with the loss of an employee. In addition to these obvious benefits, however, life insurance also offers a source of monetary investment for business uncertain about the future of employee benefits in the U.S. following the implementation of the health care act in 2014. Life insurance may also be a source of smoothing out the dips and rises in a company’s cash flow in the event of the loss of many employees and once and the necessity of paying out benefits to the deceased’s family. Though it is not a commonly sought after source of investment, Parrish argued that life insurance for business is a wise move for businesses large and small.

Though the life insurance gains Parrish discussed were primarily found in large businesses, developing a budget for employee life insurance can also benefit small businesses; in the event of the death of the business owner or founder, the business will not be in immediate financial danger, and will have some money to fall back on until a replacement can be found. This is also true of lower-level employees. Though these employees are not typically as harmful to the overall business as a high-level employee or owner, every loss can take a toll on a business. These benefits can be reaped with term life insurance, whole life, or no exam life insurance, for employees unable to pass the medical exams required for term and whole life insurance. To study more on the topic visit MCFIR.com.

Steve Parrish is a Forbes contributor, lending his expertise to business articles and news, offering advice designed to assist business owners in maximizing income and benefits. He has worked as a contributing author to Forbes in July of 2011.

Sunshine Advisor encouraged business owners to consider purchasing term life insurance for employees, high and low, to ease the financial burden of losing an employee, as well as provide a source for the holding of funds intended for employee benefits. Term life, whole life and no exam life insurance may be purchased to provide employees with insurance, and provide businesses with a source of monetary peace of mind.

About SunshineAdvisor:
Sunshine Advisor is a site tasked with providing sound advice, on a variety of topics, to the world at large.

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