Life Insurance Strategies to Consider When You Own a Family Business

Not only can life insurance replace lost income, but it can help with estate taxes and provide a sense of fairness for family members who don’t participate in the business.

A small-business owner waits on a couple of customers at her bakery.
(Image credit: Getty Images)

For small-business owners, life insurance can offer many benefits, such as the typical motivator for any potential policyholder: providing the family with enough money if the primary earner dies.

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Howard Sharfman
Senior Managing Director, NFP Insurance Solutions

Howard Sharfman, Senior Managing Director of NFP Insurance Solutions, is a leader in the insurance business, managing one of the premier and largest wealth transfer consulting and planning firms in the country. Mr. Sharfman’s practice is highly focused on servicing families with multigenerational wealth.

With contributions from