Planning for the loss or disability of a business owner or partner with a buy sell agreement and insurance is crucial to ensuring the continuity of your business and protecting the financial interests of each co-owner’s family.

A buy sell agreement specifies what will happen to the interests of an owner, partner or shareholder who passes away or becomes disabled. If your company’s buy sell agreement requires that the other owners or partners must purchase the deceased/disabled owner’s interests, you can use life or disability insurance to fund the buy sell agreement rather than personal funds or business assets.