Benefits of Buy - Sell Insurance

BROOMFIELD BUCKS LLC BUY-SELL INSURANCE? YOUR TRUSTED FINANCE AGENCY Miami, Florida, United States 7868659227 [email protected] broomfieldbucksllc.com

WHAT IS A BUY-SELL INSURANCE? A buy-sell insurance is a binding agreement in which closely held business owners agree to sell their business interests to remaining owners upon a specified triggering event. Triggering events typically include death, disability, or retirement. Buy-sell insurance is a binding contract between co-owners. The agreement dictates when an owner can sell their interest, who can buy it, and what the the price will be. Buy-sell insurance serves as a guide amongst owners, allowing for an orderly transfer of ownership. WHAT ARE THE BENEFITS OF A BUY-SELL INSURANCE? The remaining owners receive protection against the sale to an unknown third party. Provides liquidity for the existing owner at a predetermined value Without a buyout, the existing owner and/or their surviving family members would continue to expect financial benefits from the company.