Life insurance is one of those things most people avoid talking about. However, it's a very necessary conversation. What some people don't realize is that Life insurance is also in investment and can other benefits as well. Traditionally it is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount (at regular intervals or in lump sums).
If you're a business owner or have business partners, it's important to prepare for the unexpected. State Insurance Agency offers several Life insurance products that are designed to help you, as a business owner, to make it possible for your heirs to help pay estate taxes and help sustain the business during a change in management, or to help provide funds in order to execute a buy-sell agreement between partners or stockholders.