Life insurance is a type of insurance where in the insurance company provides insurance cover against the death of the insured. In life insurance there are 4 parties, the insured, the insurer, the owner of the policy and the beneficiary. On the death of the insured the beneficiary gets insurance proceeds from the life insurance company. The insurance proceeds are used to pay for death costs, funeral or are invested to provide an income to replace the deceased’s earnings. Other reasons for life insurance include retirement and estate planning

Term life insurance is a temporary type of life insurance. This provides cover for a limited period. This type has no cash value that is on the death of the insured; the beneficiary will get death benefits like funeral cost, death cost and replacement of wages of the insured. However if the insured does not die within the insurance period, the owner of the policy will get nothing in return that is there is no cash value. This is the cheapest of the life insurances. Term life insurance has given birth to the phrase “buy term and invest the difference”. That is buy a term life insurance rather than a permanent life insurance which is costlier and invest the difference between the permanent life insurance and the term life insurance to make profit. Term life insurance is considered profitable and cheap life insurance.

To have your business considered a small business, there should be a minimum of two permanent employees to a maximum of fifty. If for instance you have fifty-five employees among who five are freelance and part-time employees, then your business is still considered a small business.

The small business owner health insurance assists proprietors and owners in cases of health emergencies. Once insured, a small business owner can make use of the benefits listed under the health insurance. Often times, what the health insurance does for the small business owner is pay for any hospital, medical and professional fees incurred during hospitalization or check-ups due to illness.