This is part 2 of a blog series: Smart Insurance Choices for Professionals & Business Owners.
Not all insurance is created equal. Different policies serve different purposes, and understanding what each one does can help you make smart financial decisions. Here are the key types of insurance every business owner and professional should consider:
• Life Insurance – Provides financial support to your loved ones or business partners in case of your passing.
• Health Insurance – Ensures access to private healthcare, covering major medical expenses without long wait times.
• Trauma Insurance – Pays out a lump sum if you suffer a serious illness like cancer, heart attack, or stroke.
• Income Protection Insurance – Replaces a portion of your income if you’re unable to work due to illness or injury.
• Key Person Insurance – Protects the business if a crucial team member is unable to work, ensuring financial stability.
Each type plays a vital role in protecting both personal and business interests. In the next post, we’ll share real-life cases where insurance made all the difference.
