Aug
14
2010
Can a felon get Health and a small Business Insurance?
Posted by admin in small business health insurance, tags: Business Partner, Felon, Getting Insurance, health insurance, Insurance, Insurance Business, New Business, Small Business Insurance
ARTHUR T asked:
If a person were to open a new business and their partner was a felon, how should they go about getting Insurance for the business as well as Health Insurance?
If a person were to open a new business and their partner was a felon, how should they go about getting Insurance for the business as well as Health Insurance?
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Being a felon has no bearing on insurance. That shouldn’t be a problem at all.
I know it’s possible…But just get in contact with some local insurance companies….
OK, I’ve written business insurance on businesses owned by felons. It’s not a deal breaker, but for a NEW business, you’re likely going to be in the surplus lines market. You need to go to an independent agent, give them details on the type of business it is, and get quotes for the business insurance.
If you’re only buying health insurance for one or two employees, it’s going to be INDIVIDUAL coverage, not a group plan, in most states. It gets underwritten and priced based on the age, the health, and the coverages. If the agent doing the business insurance isn’t licensed for health insurance, ask them for a referral.
**caveat – any illegal acts committed by an owner of the business are NOT COVERED anyway – just want to make sure you know that. If the partner runs off with the stock, it’s your loss.**