Business Continuation
Business continuation and
succession planning guidance
We offer business continuation insurance, a package of life and disability policies, structured to maintain the continuity needs of the remaining business ownership should a partner die or become unable to participate in ongoing operations.
It is an essential component of our succession planning services that entails identifying and developing potential future successors to leadership positions within a business.
Insure Your Business for the Future
In the event of an owner – or partner within a business interest – dying, retiring or becoming disabled, the Buy-Sell Agreement provides a predetermined formula that mandates business shares be sold to the company or the remaining partners of the business. In the event of death, the Buy-Sell process is often funded by life insurance policies put in place for this purpose.
If the unexpected death of any one crucial executive within a business would severely impact its operations, this coverage will provide the financial means to cushion the blow and give the company time to develop a recovery strategy.
If a key executive or employee becomes temporarily disabled and cannot perform the core responsibilities of their position, this type of policy will offset most of the overhead business expenses associated with that person’s absence.
If an owner or partner within a business interest becomes permanently disabled, this coverage provides the funds for that person’s business shares be sold to the company or the remaining partners of the business – either in a lump-sum or installments.