BUSINESS OWNER PLANNING
Protect the Business You Built
Key person coverage, buy-sell funding, and SBA loan life insurance, compared across A-rated carriers so a single loss doesn't become two.
Coverage for owners, partners & key employees
SBA loan compliant
A-rated carriers
Often same-day approval
BUSINESS OWNER PLANNING
Your Business Is Your Largest Asset. Treat It Like One.
For most owners, the business is the primary source of income and a major part of the family's future. We help you identify where that's exposed, put the right protection in place, and prepare to scale, sell, or pass it on.
From key person insurance to buy-sell funding to satisfying an SBA lender's life insurance requirement, we compare options across carriers so you're not overpaying for coverage you're required to carry anyway.
Key Person Protection
Helps a business survive financially if it loses an owner or a critical employee.
Buy-Sell Agreement Funding
Guarantees the money is there to buy out a partner's share if they die or leave.
SBA Loan Life Insurance
Meets your lender's requirement without paying for more coverage than the loan needs.
Succession Planning
Prepares the business for a future ownership transition instead of a scramble.
SBA LENDING
If Your Lender Requires Life Insurance, You're Not Being Upsold
Under current SBA rules, life insurance is required when a loan isn't fully secured by collateral and the business depends on one owner. It's frequently smaller than borrowers expect, and it's the lender who sets the requirement, not us.
Often Same Day
Most applicants complete a short online application and answer a few health questions instead of taking a medical exam.
We Handle the Assignment
Once your policy is active, we coordinate the collateral assignment your lender or CDC needs so you're not chasing paperwork mid-closing.
Sized to the Gap
Coverage is capped at the loan amount and sized to the collateral shortfall, not the full balance.
COMMON QUESTIONS
Business Owner Planning FAQ
What is a buy-sell agreement and why fund it with insurance?
A buy-sell agreement sets what happens to an owner's share if they die or leave. Funding it with life insurance guarantees the money is there to buy out that share smoothly, protecting both the company and the family.
Does every SBA loan require life insurance?
No. It applies when the loan isn't fully secured by collateral and the business depends on one owner, which is common for sole proprietorships and single-member LLCs. Your lender or CDC sets the specifics.
Do I need whole life insurance to satisfy my SBA lender?
Generally no. Permanent insurance, like whole life or universal life, shouldn't be required for this purpose. A level term policy covering the loan term typically satisfies the condition at a small fraction of the cost.
How does key person insurance actually work?
The business owns the policy and is the beneficiary. If the key person dies, the payout helps cover lost revenue, recruiting and training a replacement, or paying down business debt while things stabilize.
EXPLORE MORE
Related Services
Life Insurance
Term, whole life, and final expense coverage compared across 80+ carriers.
Mortgage Protection
Coverage sized to pay off what's left on the loan if something happens to you.
Estate & Legacy Planning
Help your family avoid probate and keep assets out of court.
Make Sure One Loss Doesn't Take Down the Business Too
Compare key person, buy-sell, and SBA-compliant coverage built around how your business actually runs.
No obligation · Multiple A-rated carriers · Often same-day approval
Life Protection Partners
Independent life insurance agency helping families and business owners compare coverage from 80+ A-rated carriers. Licensed in all 50 states.
SERVICES
COMPANY
GET STARTED
Free, no-obligation quote from a licensed agent.
Life Protection Partners (LPP) is an independent insurance agency and does not underwrite insurance policies. Coverage, rates, and eligibility are determined by the issuing carrier and are subject to underwriting approval. Not affiliated with or endorsed by any government agency, mortgage lender, or bank. Life Protection Partners does not provide legal or tax advice; estate-planning documents referenced on this site are prepared exclusively by independent, licensed attorneys under a separate engagement. "No medical exam" availability varies by carrier, coverage amount, age, and health history. This is a solicitation for insurance.
© 2026 Life Protection Partners. All rights reserved. NPN #22296563
4.9/5 Rating
2,500+ Reviews
NO MEDICAL EXAM REQUIRED