Business Life Insurance
While most people understand the
need for a spouse to receive funds in the event
of the death of the other spouse, most do not
realize a business can suffer if an owner or key
employee dies prematurely. It is possible for a
business to purchase business life coverage for
this situation.
In addition, many businesses start small and
sometimes grow to the point where it would be
difficult to buy a partner out in the event of
his/her death. In this case, a buy sell
agreement is used to detail what should be done
in this event, and the needed cash for the
buyout is provided with life insurance. There
are many ways to design a
buy
sell agreement.
Call us to discuss the
options and to ensure that the business you have
built can survive the death of a key person or
partner.
|
