Protecting partners and key employees.
Sometimes known as a buyout agreement, a Buy/Sell plan typically includes a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business.
Think of it as a sort of premarital agreement between partners.
An insured Buy/Sell agreement, where a triggered buyout gets funded through a life insurance policy on participating owners, ensures that the Buy/Sell arrangement funded, guaranteeing financial resources are available in the event of the loss of a business partner.
Premium Resources brings a wealth of experience managing these types of arrangements and we can help you select the proper vehicle(s) to ensure a smooth transition due to the loss of a key stakeholder. We work with a variety of carriers and partners to help you make sure the best plans are in place if and when they’re needed.