Page 12 - Business Owners - Succession Planning
P. 12
The Risks of Not Planning
You can’t predict the future, but the good news is you can do a lot now to prepare for it. A sound succession plan can help alleviate many issues, including:
Conflict
Significant Loss
Financial Impact
• Disputes among survivors • Unwanted partners
• No guaranteed buyer
• Key employees
• Business value/goodwill • Customers
• Loss of family income • Liquidation of business • No retirement income
Let's meet to discuss how life insurance could fund your succession plan.
* What’s Your Business Worth, ©Michael M. Carter, Daniel Priestly, Scott Gabehart, 2016
This material is for educational purposes only and should not be viewed as financial, tax, or legal advice applicable to each individual; please consult a qualified professional regarding your individual circumstances. Accessing cash values may result in surrender fees and charges, may require additional premium payments to maintain coverage, and will reduce the death benefit and policy values.
© 2020 The Penn Mutual Life Insurance Company, Philadelphia, PA 19172 www.pennmutual.com
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