The main purpose of life insurance for business owners is to provide financial protection for a company in the event of the owner’s death. The beneficiary can use the death benefit to pay off ...

Whereas most individual life insurance plans are taken to protect a family’s personal finances, key person life insurance seeks to protect a business’s financial situation.

Make sure your business stays afloat - set up a life insurance plan today. The bottom line Life insurance is advantageous for millions of adults - not just the ones listed above.

Explore our guide to the best universal life insurance of May 2025. We reviewed multiple UL providers to find the best option for you.