Consequently, it is worth your while to offer some group health benefits to your employees. Financial institutions offer a package of medical, dental, life and disability insurance at reduced rates for group purchase. The premiums are deducted from employees' pay cheques. Employees may opt out of these plans, if they wish. Shop around to find the policy that best meets your business needs.
Life insurance is extremely important for small business owners.
It allows your business to stay afloat if you die. It also protects your assets so they will not be sold to pay for outstanding debts, such as mortgage debt or capital gains taxes on your investments. Most important, life insurance provides your beneficiaries with replacement funds to replace your lost income. To decide how much and which type of life insurance you need, whether a term policy or a permanent insurance policy, consult your agent or insurance broker. To learn more about life insurance, go to Quicken's insurance primer .