As a small business owner, you have a lot of people who depend on you—your family, your employees and your community—and, as a result, you have a lot you need to protect. New York Life recently conducted a survey of 1,000+ small business owners to identify trends in how small business owners plan for the unexpected. The survey found that 38% of small business owners do not have enough life insurance to protect their business should something happen to them, with the average life insurance gap being $1.38 million.
To review a complete report of survey findings and see how your business preparedness measures up to the rest, check out the full report of survey findings:
Small Business Insurance Gap Survey