Transform Business Transitions With Smart Buy Sell Insurance

There are primarily three types of buy-sell agreements, each catering to different business needs:

• Cross-Purchase Agreement: In this setup, the remaining owners purchase the departing owner's share. Each owner holds an insurance policy on the other partners, which provides the funds necessary to buy the shares.
• Entity-Purchase Agreement: Here, the business entity itself purchases the insurance policies on each owner. Upon a triggering event, the business buys back the shares, redistributing them among the remaining owners.
• Wait-and-See Agreement: This hybrid approach allows the business and the remaining owners to decide who buys the shares after the triggering event, providing flexibility based on the situation.