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A buy/sell agreement—also known as a buyout agreement—is a contract funded by a life insurance policy for your business to help minimize risk and payments in the event of your passing. This agreement can provide you with peace of mind, knowing that your business is taken care of. Our team of licensed insurance agents will take the time to get to know your needs and determine the type of coverage that’s right for you and your business.
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Benefits of a Buy/Sell Agreement Insurance
A few benefits of a buy/sell agreement with life insurance include:
Provides cash to pay estate debt, expenses and taxes
Orderly transfer of wealth, ownership and management
Could offer tax advantages
Provides money to create a fair market value exchange
Ensures the business will continue to support customers, creditors and employees
Ensures remaining owners that your shares of the business will pass on to a suitable beneficiary