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Question 43 of 61 in Basics |
How would a life insurance or disability policy be used in business? |
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There are many uses, but two of the most common are to assure continuation of the business in the event of death or disability of an owner or key individual. This is done by having the appropriate legal documents executed that will pass ownership to designated individuals in the event of incapacity or death of a person who is key to the ownership or success of the enterprise. |
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