Bobert's Adventures in Business Life Insurance

Business life insurance? Sounds a bit esoteric, but its far simpler than it might sound. Suppose you started a baseball bat factory, and suppose Bobert PuffnChug, 5 foot 4, 254 pounds, 2 packs of cigs a day, 91 years of age, with a family history riddled with more diseases than a med-school text book, was in your employ, and made the best baseball bats on earth. If something were going to happen to Bobert, (and if you're trying to insure him, you're probably banking on it) your new business would be in dire straights. Bobert can't get regular life insurance of any kind. But since he's a breadwinner, his boss could get a business life insurance policy with very little trouble.

Granted, the cheapest business life insurance policy for I could find for Bobert was attached to a $7,245.00 monthly premium, it still came with a 1.5 million dollar payoff. Business life insurance policies are, as it turns out, a bit more flexible than the type available to the average concerned grandfather. The average adult male, at age fifty, could get Bobert's policy at roughly a fourth of the premium.

Business life insurance models are perfect for corporations dependent on key workers, especially if those workers are well trained in a highly specialized area of expertise. They are generally permanent, and their premiums won't change. They also don't make their subjects take physicals after the initial physical and a sliver of the paid premiums are credited over to an accumulation account. However, they're far more draconian about missed payments than personal plans; don't count on collecting if you haven't given your dues.

The ideal choice for securing your business against loss through death is a business life insurance plan. Just don't hire too many Boberts.