TIPS60 – The Importance of Having Life Insurance
Here is another of our videos offering tips and inisights into the business of photography. a transcript of the video is included after the jump.
TRANSCRIPT:Here are a few thoughts about the value of life insurance. I'm John Harrington. The value of life insurance can't be understated you definitely should have life insurance. In most cases it's tax deductible as a part of your business expenses. No, I'm not an accountant or lawyer so this should not be considered tax advice or legal advice, but look into getting life insurance because it will give you peace of mind. As someone who has life insurance I happen to use New York Life and think the world of them, they're a past and present client of mine, but I made my decision about going with them independent of that relationship. Life insurance lets you know that and let's your family know that if something were to happen to you, God forbid, that they would be taken care of in your absence. So strongly encourage you to look into life insurance. It should well be a tax deductible business expense as a part of what you're doing as a freelance photographer, whether an S-Corp or a Sole Proprietor. So look into life insurance, definitely worth having.
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