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December 2015 Archives

You're insured, you die, your policy pays, right? Not so fast

Life insurance can be a relatively low-cost way to leave a tidy sum to a loved one. If the insured's estate plan is done right, the full payout will go directly to the beneficiary, tax-free -- in Minnesota, at least. What could be easier, really? The beneficiary does not have to wait for the estate to go through probate, so the payout should come fairly quickly. All the beneficiary (or the estate) has to do is file the claim.

Is your business really covered?

When you run a small business, you probably feel as though you understand all the important and even many unimportant elements of your business operation. From how your paperwork and invoices are filed to the schedule of deliveries from your suppliers, knowing many of these facts can help you run your business and provides the underpinning for your long-term planning and the determination of other goals.

Interdependencies in business increase risk

For a business, there are many risks to insure against, ranging from typical property damage, such as damaged roof from a severe storm to fire burning your factory or warehouse, loss of inventory from flooding or fresh food lost when refrigeration systems go down.