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A Life Insurance Buy-Sell Agreement is a legal agreement funded by a life insurance policy. The life policy offers liquidity in the event an owner or partner decides to leave (retirement or exit the business) or has died. The remaining partners are then able to buy out the shares of the other owner and maintain the stability of the company. We can get you buy-sell agreement life insurance as quickly as 1 business day.
The Hummel Group is an independent insurance agency that specializes in buy-sell agreement life insurance for business owners & entrepreneurs. Our expert certified insurance counselors will help you choose the right plan, at no cost to you.
We know the process of setting up a buy-sell agreement can be confusing. Maybe you are wondering if you need it, how to set it up, or how it works...let us help. If you have questions about setting up a buy-sell agreement, don't hesitate to contact us for a free consultation now.
- It protects the financial success and stability of the company.
- It protects shareholder interests and allows remaining partners to buy out the interests of the deceased.
- It offers a way to place a lien on a key person when a creditor needs collateral for a business loan.
- It protects your company's profits if the death of a partner.
The cost varies depending on the size of the policy, the type of business you do, and the size of the business. Additionally, the price of the policy will be affected by the age and health of the person being insured, much like other life insurance policies. We can offer you multiple options and recommend the best policy to fit your business needs.
Our advisors will meet with you to discuss your business, the type of business you operate, the size of your business, and your goals. Using this information, our financial advisors can then make recommendations on the amount of coverage to purchase. This is not a one size fits all answer so it is important to discuss with an advisor to get the best plan to fit your business goals.
A buy-sell agreement in which all remaining owners purchase the shares of the exiting partner.
A buy-sell agreement in which the business entity buys the shares of the exiting partner.
Size of your business
Type of business
Since 1957, Hummel has been building its business on its uncompromising values of integrity, trust & hard work.
When it comes to life insurance, this means that your Hummel Financial Advisor knows how important this decision is and we are here to help you choose the best life insurance to protect your loved ones in case you're no longer there to do it yourself.
We're in the business of trust-building, not selling policies.
Trusted Choice is a Directory of Independent Insurance Agents and Brokers, and is not affiliated with The O.N. Equity Sales Company or O.N. Investment Management Company.
A Buy-Sell Agreement Insurance policy is only one part of your business planning process, let the Financial Advisors at Hummel Group help you develop a comprehensive plan that meets your needs while considering things like:
Our Insurance Risk Advisors can help you with:
We’re based in northeast Ohio but serve clients all over the U.S. So no matter where you are, please reach out so we can help you!