BUSINESS INSURANCE
To fund a buy/sell agreement — This agreement is used when there are partners in a business, who in an event of the death of a partner, use the proceeds of a life insurance policy to buy out the surviving heirs of the deceased partner, whether it be one, two, or more partners involved in the ownership.
Key Man insurance — When a key person whose contribution to the success of a business in the form of his skills, abilities, leadership qualities and other attributed would be devastating in the event of his death. A Key Man policy would be payable to the business to replace the revenue interruption until another person could be found, if possible, to replace him.