There’s plenty of evidence suggesting that the business exit planning market holds a lot of opportunity for life insurance professionals. There are some general trends and facts that lead us to that conclusion:
- The incidence/ownership of small businesses is increasing.
- The number of small-business owners approaching or at retirement age is increasing.
- The number of closely held businesses that survive to the next generation is concerning. The number surviving two generations is scary.
So our assumption is that more business owners will have more desire to retire and be interested in their business’s survival. Therefore, they will be more interested in planning — and in financial products and cash value life insurance.