What is a Buy-Sell Agreement?
A buy-sell agreement can provide one of the most orderly means of transferring a business interest upon the death, disability, severe illness, or retirement of a business owner or partner. An agreement must be in place and funded to be effective, and all premium payments must be made to keep the policy in force when life insurance is the funding vehicle.
Is a Buy-Sell Agreement Review Needed for Your Business?
Does the funding of your current buy-sell agreement...
- Offer an accelerated benefit option for terminal illness?
- Offer an accelerated benefit option for critical illness?
- Offer an accelerated benefit option for chronic illness?
- Increase in cash value as your business value increases?
- Pay an income tax-free lump sum at the death of an owner?
- Offer to continue paying premiums automatically during a disability?
- Offer a stream of income that may supplement retirement income of an owner?
- Offer a stream of income to buy out an owner?