Business Insurance  Ensure that your business can survive a disability, critical illness or death of an owner or key employee by reading our information and contacting us.     Buy-Sell Agreements What is a Buy-Sell Agreement? A buy-sell agreement is a legal agreement between shareholders or business owners that provides for smooth transfer of ownership should a partner become disabled or critically ill, retire or die. Since businesses are constantly changing, we recommend that buy-sell agreements be reviewed annually. When entering into a buy/sell agreement, owners or shareholders should ask: Who will inherit or buy the business interest? What price will be paid for the business interest? Where will the money come from to buy the co-owner's business interest? Benefits of an insured Buy-Sell Agreement The business’ working capital remains untouched. The owner's business has a guaranteed market at a fair price. The deceased or disabled owner’s family is provided with cash.    Employees, creditors, suppliers and customers are ensured that the death, disability or retirement of a business owner will not disrupt daily business operations. Key Person Insurance The most valuable asset of any successful business is its key people, whose unique talents make a significant contribution to the bottom line. Who are key people? You, people with unique relationships with valued customers, people with specialized technical talents and people responsible for major projects. What impacts could a key persons’ death or disablement have on your business? Projects could stop  Job momentum could be lost  Job security for other employees could be affected  Customers could be lost  The business could have difficulties in continuing  The business could have trouble maintaining its good reputation  The business could lose sales and profit  The business’ line of credit be affected  There could be costs associated with recruiting, hiring and training a replacement  Benefits of Key Person Insurance: It is the most economical way of providing cash when needed most  Proceeds are tax-free  Money is delivered at the exact time it is needed  The business’ future is secure