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Partnership / Key-Person Business Insurance

To prevent disruption and financial disarray in case of the loss of a partner or key person, insurance can fund a Share Purchase Agreement to provide a partnership buy-out or cash for the business.

A key person is anyone whose loss would have a serious effect on the business. Proper insurance will provide the necessary funds to allow the company to continue functioning as successfully as it would have had it not lost the key person.

Business insurance is invaluable for surviving shareholders and the heirs of the deceased, and gives confidence to bankers and lenders.

By providing a planned transfer of ownership and managerial responsibilities, shareholders are assured that the company will remain stable and that control will not automatically be transferred to heirs, surviving spouses, or possibly competitors. For the heirs of the deceased, business insurance can provide cash to the estate, guarantee a time frame for payment and a fair price, and prevent disputes.

Business Expense / Overhead Insurance

In case an accident or illness left you unable to generate income, insurance can cover overhead costs such as rent, leases, and salaries to allow your business to continue running while you are away. The proper business expense/overhead insurance will cover expenses without eating into reserved funds.