An insured buy-sell agreement, sometimes called a business will, is often created within partnerships so that in the event of death of one of the partners/members, there are the necessary funds available to purchase the interest of the deceased. This provides an immediate cash settlement to the deceased beneficiaries for their portion of the business. This also allows the remaining owner to continue on with full control and ownership of the business.
These agreements are most often funded with life insurance to leverage liquidity. The amount of coverage purchased is usually equal to the fair market value of each partner’s interest.
If you already have a policy for your buy sell agreement, we can perform a thorough policy review to make sure your policy is still the most competitive and/or is sufficient for your coverage needs. Often, our clients find better coverage for less money. There is no obligation or charge for this service.
Ensure Charity works with over 40 of the nation’s largest life insurance carriers, so we are able to be unbiased in our recommendations.
By purchasing your life insurance policy through Ensure Charity, 50% of our gross revenues (commissions) will be contributed to one of our featured charities or a charity / non profit organization of your choice*. This is Socially Conscious Planning.