WHAT IS BUY /SELL INSURANCE?

Buy/Sell agreements deal with the involuntary departure of an owner (Death, Serious illness).

Supported by insurance, a policy provides proceeds to the departing owner (or nominated beneficiaries), as consideration for the transfer of the ownership to surviving owners.

This insurance arrangement is critical to ensuring that the ongoing viability of a business.

NEW OR REVIEW?

We assess whether Buy/Sell Insurance provides a net benefit for you and your business, or we can check what you may already have in place.  Delivering one of the following outcomes:

Keep your Existing Policy/Provider with the Existing Cover you have
Keep your Existing Policy/Provider and revise the Existing Cover you have
Change your Existing Policy/Provider with the Existing Cover you have
Change your Existing Policy/Provider revise the Existing Cover you have

HOW MUCH DOES BUY SELL INSURANCE COST?

Firstly, determine the level of cover that business partners need, considering the value of individual shares in the business.  The sum insured on the buy and sell life insurance agreement should be driven by this.

It is not a low cost cover, though consider the situation should an unfortunate event occur.