Many of our clients are small business owners who care deeply about their business, employees and customers. As insurance agents, we help insure their home, auto, liability, personal life insurance, group health benefits, but are you asking about their Business Continuation plan or Buy-Sell Agreement?
On average, 45% of the business owner's net worth is tied up in the business.* This subject is near and dear to some of your best clients and if you start the conversation, your clients will be interested in what you have to say.
Only 26% of small businesses owners have some type of succession plan in place.* In fact, only 30% of family owned businesses survive to the 2nd generation and less than 12% to the third generation.** Healthy businesses that do not plan for business continuation properly can fail rather quickly; conversely, businesses that plan for continuation can survive and thrive moving forward.