Buy Sell Agreements. It takes years of planning, hard work and
sacrifice to build a profitable business.
If proper preparation is not made to preserve it in the event of the death of a partner or a share holder of a closely held corporation everything can fall apart.
Sometimes business people do not pay enough attention to this possible eventuality.
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You can use term life insurance or a permanent policy. Many business people show preference to the 20 year term policy and the 30 year term policy. Properly prepared buy-sell agreements are vital to the survival of partnerships or corporations.
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I recently did some research on the development of the 30 year term insurance policy over the years. What I learned was quite interesting.
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