Buy-Sell Planning

What is the Purpose of Buy-Sell Life Insurance?

One common question we receive when discussing key person benefits is “What is a buy-sell agreement?” A buy-sell agreement, also known as a buyout agreement, is a contract funded by a life insurance policy that can help minimize the turmoil caused by the sudden departure, disability or death of a business owner or …

Why do I Need a Buy-sell Agreement?

A buy-sell agreement provides a plan for the orderly transfer of any owner’s business interest. Consider a buy-sell agreement for your business if: you have two or more owners. You want to provide protection in the event of any owner’s termination of employment, retirement, divorce, disability, or death.

What are the Risks of Not Having a Buy-Sell Agreement?

If you don’t have a binding buy-sell agreement in place, your business is at risk. Without a clear succession plan, disputes can arise among partners – or their surviving spouses- that lead to loss of valuable time, increased expenses, and costly litigation.

How to Get Buy-Sell Life Insurance

We can help you set-up your buy-sell plan and fund it with life insurance. Contact Steven M. White & Associates today to get started.