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).
June is National Adopt-a-Cat Month, making it a great time to reflect on how much happiness our cats—and pets in general—bring to our lives. Indeed, our furry (and feathery…and scaly) friends bring us lots of laugher and joy, but there is something else they may be able to do, too—help … Continue reading Can Pets Help You Live Longer?Read More
Practical Ways to Prepare for Your Death How to Prepare for Death in the Digital Age Preparing for death means preparing for the inevitable. While the idea of preparing for your own death might send shivers down your spine, it’s important to talk about what will happen when we die. … Continue reading Preparing for Death in the Digital AgeRead More
Why Do Single People Need Life Insurance? What You Need to Know About Life Insurance for Single People Life insurance for single people is a subject that often goes overlooked in the insurance community. After all, most people purchase a life insurance policy because they want to leave something behind … Continue reading Do Single People Need Life Insurance?Read More