Do you own a practice? Do you have a plan for your practice in the event of an unfortunate tragedy? All types of business need to consider what would happen if one of the partners or members dies or becomes disabled. How will the practice go on? Who will purchase the company or the deceased partner's share? How will such a transaction be funded?
Buy/Sell Insurance is used to protect the interest of a business practice in the event of a partner’s death. This type of coverage ensures the continuity of your practice by providing a way to resolve ownership issues that may arise. Usually, Buy/Sell policies are accompanied with documentation that requires the surviving partner(s) to purchase the interest of the deceased. This purchase is funded by the death benefit of the policy.
For more information or to request coverage, please contact our offices at (800) 644-9840 or click here for additional contact options.