How Life Insurance Secures Economic Growth
One would think that the purchase of one product or service could not have a dominant effect on the growth of the economy. But when you think about it, a few do. One of them is life insurance.
The impact of life insurance on our business activity is not as obvious as other products. It is easy to see the preeminence of computers, cell phones, and automobiles. How about the basics such as food, clothing, and shelter? Yet life insurance serves as the financial foundation of growth in these industries. Here are some examples:
Securing capital
When a business starts up, or when it expands, it needs an infusion of cash. Whether that cash is in the form of a bank loan, or a private investment, the liability needs to be secured. Life insurance does that for pennies on the dollar and with ironclad guarantees.
Funding partnership agreements
There is power in numbers. People who run businesses often find like-minded professionals to share in the adventure. If one should unfortunately predecease the other, then the surviving partner needs money to gain control and move forward. Life insurance does that for pennies on the dollar and with ironclad guarantees.
Indemnifying key people
Business owners are key. Executives are key. Technicians and specialists are key. Their services are vital and the loss of them could cripple business operations. Fast cash is needed to keep things moving and buy the time needed to find a suitable replacement. Life insurance does that for pennies on the dollar and with ironclad guarantees.
Just think about all the business activity that takes place in our country and across the globe: all the loans and investments, all the new businesses and partnerships, and all the people that rise to key roles in these businesses. None of it could happen if people were constantly worried about losing their financial footing. Life insurance provides that for pennies on the dollar and with ironclad guarantees.
Can you think of a better product for this purpose?