Small business during COVID-19 – How life insurers are helping employers

All of us, and perhaps especially those involved with small businesses, are doing a lot of assessing and re-assessing of just about everything lately. Financial planning and protection are increasingly important while we face the unpredictable.

Do you own or work for a small business? Here’s what we know in light of the pandemic:

  • Small businesses are vital for our economy. Right now, small businesses employ nearly half of the American workforce. Employers are facing challenging decisions in response to COVID-19. Businesses are getting creative in how they support the ways we shop, dine, learn, exercise, and celebrate.
  • You may be surprised to learn that life insurers do a lot to support these businesses. Life insurers have been meeting the moment during the COVID-19 pandemic, helping small businesses plan ahead with retirement plans and other employee benefits. They also help ensure family businesses stay in the family.
  • The good news: small businesses can leverage financial aid and savings policies. Nearly one-third of small business owners have life insurance with cash values that can help with company liquidity needs that may have sprouted in our new economy.
  • Staying informed is the first step to helping America’s small businesses navigate the post COVID-19 economy. Protecting Every Future’s mission is to keep you informed. Instead of getting buried with tons of research, we’ll send you short updates that break-down complex financial policies.
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In the meantime, you can learn more from our dedicated page on financial protection during COVID-19 here.