If you financially support a partner, children, or aging parents, you need life insurance.
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Certain life insurance products, known as joint life insurance policies, are geared towards married people.
She recommends a business-owned life insurance policy and business-owned disability insurance that names the business as the beneficiary so it can continue.
Also, if you get a business loan, most lenders will require life insurance like decreasing term life insurance, where the bank is the beneficiary to payoff the loan in if the event the business owner dies.