What is a Buy-Sell Agreement? A buy-sell agreement is an agreement between the owners of a business, which provides that the interest of any one of them who dies shall be sold to and will be purchased by the surviving co-owners or by the business at a value agreed upon by the parties and stipulated in the agreement. Life insurance is one of the more popular methods of funding buy-sell agreements today. How it Works
Buy-Sell Agreements can be funded with either term or permanent (cash-value) life insurance. Both will pay the death benefit, but the cash value of a permanent life insurance policy can be used for non-death related buy-outs (often in a tax-efficient manner).
Final expense insurance also referred to as “funeral” or “burial” insurance, is a life insurance policy that is designated for paying the final expenses of the insured that typically accumulate leading up to and immediately after the insured’s death. It is no secret to anyone living in the United States … Continue reading Final Expense Insurance – What is it and Why Should I Buy It?Read More
Preexisting conditions will usually have a substantial impact on life insurance rates; however, they do not always prevent you from being able to purchase an affordable policy. The good news is the life insurance industry has become very competitive, and insurance companies are now offering life insurance policies to people … Continue reading Buy Life Insurance with Preexisting ConditionsRead More
Life Insurance Terms You Should Know Just like with lawyers, members of the insurance industry use unfamiliar terms when they discuss the various products they represent. Not because they’re smarter than anyone else, it’s just the nature of the industry. Certainly, anytime you’re speaking with an agent, you can … Continue reading Life Insurance Terms You Should KnowRead More