What would you like to do?

What is commercial life insurance?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

There are many reasons to use life insurance in a business situation. Say you have two people in a partnership and you agree that if one person dies the other will buy out the family of the deceased. Where will you get the money to buy out the family. Life insurance is often the funding source for many such agreements. This example is called a Buy-Sell Agreement. These are funded by life insurance on each partner in a set amount per their agreement. It serves both parties as the survivor gets the business and isn't all of a sudden without a partner and stuck with inexperienced family members who own half the business. The family of the deceased are paid in full by the insurance proceeds without having to negotiate a price for a business at a bad time. Another type of business life insurance is "Key Man Insurance" where a business would suffer financially if an important employee died. The life insurance would pay the business and give them money to overcome the loss as well as to recruit and train a new employee for the important position. There are many other type of business life insurance. For full disclosure, I own and operate a small Independent Insurance Agency in Georgia and have for the past 22 years. I also worked for a direct writer for the 3 years before that.
Thanks for the feedback!

What is commercial insurance?

Commercial insurance helps protect your business from its own  exposures. Exposures are risks that your business generates during  the course of its operations.    Pr

Diffenance in commercial and non commercial insurance?

  Answer   Commercial Insurance is for a business. (general liability, worker's comp, etc.) The term "non-commercial" insurance isn't generally used. There is commerc

Who plays the music for the pacific life insurance commercial with the whales in it?

Dunno the name of the song, but the commercial is called "Tail Slaps Sports Music." Here's a link! http://www.pacificlife.com/About+Pacific+Life/General+Information/advert

What is Life insurance and general insurance?

Life insurance, as the name suggests, is insurance on human lives. Life insurance policies are considered to be "valued policies" because they are purchased in finite amounts,

What is difference of commercial liability insurance and commercial comprehensive insurance?

Liability provides coverage for claims or losses in which you canbe held liable for damages or in which you have been accused ofbeing responsible. Comprehensive coverage woul