If you are a new or established business owner or if you are in a partnership business and you don’t already have this in place, you must have it
You are 5-10 years or more into your business and your business is doing well. Your business is beginning to grow and you have an established clientele. But then something unexpected happens. Either you or your partner have been diagnosed with an illness or one of you has been involved in a serious accident or worse, one of you passes away.
Well, what happens to your business?
The loss of a key person to a business can be devastating. Though you could never replace the key person, having a proper partnership agreement in place is essential so that the business can carry on.
The partnership agreement is between you and your business partner on how the surviving partner would purchase the deceased partner’s shares of the company. If you don’t have a partnership agreement, you have to ask yourself, do you want your deceased partner’s spouse as your new business partner? How do you keep control of the company?
What if you have loyal employees who are dependent on the success of the company? What would happen to them if you or a key person or partner is injured, sick or passes away? This can impact many people other than yourself.
What you need is a proper partnership agreement. I can show you how to properly fund a partnership agreement in the most cost-effective way. That could potentially be a combination of life, disability and critical illness insurance.
Your business needs to be bullet-proofed against any unforeseen event. I prepare a free analysis of your particular situation because there are all kinds of businesses and business circumstances.
If you already have a partnership agreement in place, would you not want to make sure that you are not paying too much? If you think you are funding your partnership agreement in the best way, let me perform a free analysis to compare with what I would recommend.
If I can save you and your company money on the cost of your insurance, you would be interested wouldn’t you?
If you have any questions or would like a free consultation, leave your information below and I will get back to you as quickly as I can.
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