Your restaurant is probably like most: one or two people are vital to the survival of the business. This may be a partner, head chef, or operations manager.
If this person’s exit from the business is planned, you can prepare for the loss and take the necessary steps to minimize the impact. However, if the departure is unplanned, your business can be exposed to financial risks.
Consider purchasing key person life insurance to reduce the backlash in the event that one of these key employees leaves prematurely.
Please know that we are here to guide you through the confusing maze of insurance options to find the right fit for you, your family, and your business. If you have any questions or need more information on this issue, please contact us.
