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The Security to Grow: Young Entrepreneur Protects His Assets With Permanent Insurance
At the age of 33, dermatologist Jason Staback had a successful medical spa business, Elan Medispa & Dermatology Center in Old Bridge, New Jersey. With his business flourishing and his family growing, Staback realized he needed to put a financial plan in order.
Staback met Financial Representative Tim Ayers of Guardian agency, C&A Financial Group, and the two developed a plan of action. Tim's first step was to help Staback address the challenges he was facing in growing and protecting his business and his expanding family.
"I needed something that would give me access to cash when I needed it and also protect my family and my business," said Staback. "Tim recommended a whole life insurance policy which met all of these needs."
With this whole life policy in place, Staback quickly built up its cash value and was able to draw on that to expand his business. The whole life policy also allowed Jason to help his wife open her own business, an upscale fashion boutique called In the Mix.
Further, the lawsuit protection afforded to whole life insurance is crucial for business owners like Staback. The proceeds of a whole life policy are protected from creditors and separate from his personal assets. And with a waiver of premium, Staback and his family can continue to benefit from the policy in the event he cannot work due to a disability or illness— an important feature for small business owners like Staback.
Staback continued, "With Tim's help, our family and our businesses are financially secure and can continue to grow."
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