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
Subscribe to the Financially Simple Newsletter
NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit
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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:
This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances.
Certified Financial Planner Board of Standards, Inc. (CFP B
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