What Insurance Policies Do Business Owners Need And Why?

In episode 287 of Financially Simple, Justin talks to Todd Sklar of GBS Insurance about the types of insurance Business Owners need.

As a small business owner, having the right insurance is key - what if something happens to you, or one of your key team players? Justin and Todd discuss the types of insurance, and why they are needed.

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TIME INDEX:

01:18 - What Insurance Policies Do Business Owners Need And Why?

04:02 - The Role of Insurance in the Life of a Business Owner

05:47 - Most Common Types of Insurance

07:05 - Personal vs. Business

08:02 - Overhead Coverage

09:24 - Disability Insurance and Buy-Sell Agreements

11:55 - Long-Term Disability Insurance

12:38 - Life Insurance

14:20 - Cross-Purchase Agreements

15:50 - Key Person Life Insurance

17:36 - Long-Term Care Insurance

19:39 - Summary

21:40 - Wrap Up

 

RESOURCES:

Financially Simple Educational Website

Financially Simple on YouTube

Subscribe to the Financially Simple Newsletter

Ask Justin a Question

NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit

Todd Sklar, LinkedIn

GBS Life

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BIO:

Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.

DISCLOSURES:
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