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Buy-Sell Funding
A buy-sell agreement without the money behind it can leave a partner's family and the business in a tough spot. Life insurance is often how it gets paid for. We work with your attorney and accountant so the coverage matches the agreement, compare several companies, and review it as the value of the business grows. Call or text and we'll start with your agreement.
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Who It's For
Is Buy-Sell Funding Right for You?
- Businesses with two or more owners
- Family businesses planning succession
- Owners with a buy-sell agreement that isn't funded yet
Good to Know
Before You Buy
Buy-sell funding only works when the policies match the agreement behind them. We go through each piece with you before you apply.
- Several companies. We compare several companies and explain your options in plain English or Spanish.
- Plan structure. In a cross-purchase plan each owner insures the others, and in an entity plan the business owns the policies.
- Regular reviews. Coverage amounts should be reviewed as the business grows in value.
- Without funding. Without funding, surviving partners may have to borrow or sell assets to buy out a partner's family.
- The agreement. The insurance funds your buy-sell agreement, so the two should match. Your attorney drafts the agreement itself.
- Disability. Many agreements also address a partner's disability, which life insurance doesn't cover. Some companies offer disability buyout coverage.
Pair It With
Gaps Business Owners Often Miss
A funded buy-sell protects the partners. These are the gaps we check for when we talk with you.
The Business Needs Its Own Coverage
Key person coverage gives the business money to recruit and cover lost revenue.
Owners Need Personal Coverage Too
Business coverage pays the business. Your family needs its own life policy.
Lawsuits Need Liability Coverage
A customer injury or damaged property can lead to a lawsuit. General liability covers it, plus your defense.
Your Building and Equipment Need Property Coverage
Fire, theft and storms hit what keeps the doors open. Property coverage protects your building, equipment and inventory.
Contracts Often Ask for Higher Limits
A commercial umbrella adds a layer above your liability, auto and employers liability, often for less than raising each limit.
Lifelong Coverage for Long Partnerships
When partners plan to stay in business for decades, permanent life can fund the agreement for as long as it lasts.
More Life Insurance
Other Life Options
Compare Buy-Sell Funding Options.
Final approval and pricing are set by the insurance company after you apply.