Speak with an experienced advisor! 415-294-5454 Speak with an experienced advisor! 415-294-5454Business life insurance is life insurance used for business purposes.
Often these are buy – sell agreements or key man insurance. These may be funded via a Term or Whole life insurance policy.
Which is best? It is usually a case by case basis.
Which is best for a Business Use? It depends. A full needs based calculation for the given situation would need to be completed.
What is a Key Man life Insurance Policy? A key man insurance policy is loosely defined as life insurance policy taken out on an important individual to assist in keeping the business running.
What is a Buy Sell Agreement?
According to Investopedia, a Buy Sell Agreement is “an approach used by” small businesses, such as closed corporations ” to divide the business share or interest” for a partner or owner. The life insurance component may be used to accomplish this task.
Contact a life insurance specialist to discuss.
Written by Scott W Johnson
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