Proper planning is essential in order to protect your company from inevitable loss due to retirement, disability, resignation, and death of a key employee. At United Benefit Solutions our staff of industry professionals will provide a full evaluation of your company contracts, and business partnership agreements.

The following are a few Business Partnership Programs that should be considered.

Buy-Sell Agreement – sometimes refereed to as a “business will”, is an agreement between business partners & shareholders of a business, which is supported by life insurance, that identifies a buyer for interest of a departing business owner or key employee. (Three types: Cross Purchase, Entity, and Wait and See)

A few benefits of the Buy-Sell Agreement include: It can establish an exact value of a business for tax purposes. Provides confidence and stability for existing partners, shareholders, and key employees in the form of liquidity to the business in the event of the departing owner, partner, or key employee. Turns the business interest into cash, and defines a market for the business.


Disability Buy Out Programs - A Disability Buy-Out Insurance Plan is specifically designed to pay an amount equal to the pre-arranged buy-out amount agreed to by the owners of the business in the event a business owner or key employee becomes disabled.

A few benefits of the Disability Buy Out Program include: Avoids costly litigation and time expended on valuing the disabled business owner by defining a price on the owner’s interest of the company. Assures the active business owners that the disabled partner will not seek to sell their interest outside the company due to cash needs. Provides reassurance to customers, employees, family members and creditors.

Key Person Insurance – A key person or key employee is an employee of a company with a specialized skill set that directly impacts the success of the company. A Key Person may also have a special relationship with a portion of the client/customer base of the company, and is detrimental to keeping such a relationship active. Insuring a Key Person(s) can protect the company financially in the case of unexpected loss to such an employee(s).