What is Buy Sell Insurance?
Buy sell insurance is designed for businesses with two or more partners. This life and disability insurance financially backs an existing buy sell agreement by ensuring that remaining partners in a business have the cash necessary to buy out the business interest of the exiting partner.
Who needs Buy Sell Insurance?
Any business with two or more partners should evaluate the need for buy sell insurance. If you fit into one of the categories below, you should seriously consider a buy sell insurance policy.
- Business value of $5M+
- Partners have a large age gap
- All partners are healthy
- Ownership percentages are unequal
- You would not want to own your business with an exiting partners’ heirs
- You cannot personally fund a buyout per your contract
- Business requiring professional education/licensing
Benefits of Buy Sell Insurance
Funding buy sell agreements with life insurance provides the capital needed should one of the partners die or become disabled.
When your buy sell agreement is funded by life insurance, it lessens the risk of legal battles between exiting partners and existing ones.
Since buy sell insurance claims are paid relatively quickly, a legal buyout can be done easily and efficiently.
Why Blue Herring?
We expect more from the life and disability insurance industry. So should you. Our fiduciary- and attorney-preferred independent underwriting model gives businesses the transparency and leverage they need to get the right policies for their key person insurance plans, at significantly lower prices.
- We comparison-shop real prices for your company’s key person insurance policies — not quotes based on incomplete information.
- We tell you everything you need to make the best decision, and we’ll share industry secrets you should know before you buy.
- We operate as a team with companies looking for the best key person insurance policies at the best price.
Meet your match.
Our extensive network of small, large, mutual, and public carriers positions us to find the best policy at the best price.
How to get started
Blue Herring is revolutionizing insurance sales with an unbiased, independent underwriting model that saves your company money.
Don’t take our word for it
Hear from the clients who’ve experienced the Blue Herring difference.