PSA for anyone looking to get an SBA deal: Get life insurance now!

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May 01, 2026

by a searcher from State University of New York Empire State College in Jamestown, NY, USA

In the final steps of my first real business acquisition. It's been a huge learning experience and overall positive. One thing that took way longer than I thought it would is getting life insurance. I needed a term life policy to cover the equity gap in my deal and didnt have any life insurance. It took several weeks to go through the whole process and has probably pushed back closing by a few days. Not a big deal, but also could have been worse if I didnt stay on top of things. It also added unneeded stress to the process. Lesson learned.
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Reply by a searcher
from Thomas A. Edison State College in Tampa, Florida, USA
Term4sale.com is the best place to buy and compare life insurance. I think it is the cheapest. It cuts out all the crap and junk fees from other type of providers. I already had some life insurance (I bought a few years ago on a long term policy--always buy younger and longer!!), but I just bought some additional insurance that will cover the value of the loan for the next 20 years because it was cheap--I am not that old and in decent health. I did it through the agent I had previously used for my wife and I through Term4sale and it was super easy...I did not even have to do a medical appointment. And I have no affiliation to Term4sale, LOL. It is just a thousand times easier than dealing with Policy Genius (which I looked at) or all the vulture life insurance agents/companies out there.
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Reply by a professional
from Wesleyan University in Philadelphia, PA, USA
Great advice @redacted‌! I send our marketing piece on key person insurance and the life insurance application over whenever I am engaged by a searcher for insurance due diligence!
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