- Business Buy-Sell
- Short Term Coverage
- Mergers & Acquisitions
Buy-Sell Failure To Survive
Any business with two or more owners should seriously consider having a buy-sell agreement in place. Once the buy-sell agreement has been established then there is the important need to provide a mechanism for funding the transfer of ownership should something happen to one of the owners. It is the unexpected situation of a premature death or disability which normally is the cause for alarm. The firm's assets are at risk and it is the job of the Buy-Sell Failure to Survive Plan to provide a solution to this situation.
Policy & Underwriting Information
- Term of Insurance up to 12 months
- Renewals are considered if continued coverage is needed
- No medical exam or medical records required to apply
- A copy of the Buy-Sell Agreement and company financials are required at underwriting
- Benefit amount will not be able to exceed 100% of the ownership value
Coverage would be appropriate for clients when...
- Coverage is needed immediately (24 - 48 hour underwriting)
- Insurable interests need to remain confidential
- Completing a medical exam would be an issue
- Proposed insured is temporarily out of the country
- Proposed insured must travel to war zones
- Coverage is needed for a short period of time
- Health issues are a concern
- Issue limits are a problem
- Suicide, intentional self-injury or the voluntary disappearance of the insured person.
- Active participation in terrorism or war.
- Nuclear, biological or chemical exposure as a result of terrorism or war.
- While committing or attempting to commit a felony.
- Any emotional or psychiatric problems, including but not limited to neurotic disorders such as anxiety, phobias, depressions, dissociative disorders and obsessive compulsive disorders; psychotic disorders such as schizophrenia, paranoid psychosis and affective disorders; and personality disorders such as sociopathic personality.
- Taking of illegal drugs, or addiction or misuse of prescription or non-prescription drugs.
- Alcohol abuse or addiction, being under the influence of alcohol, as defined by the vehicle code of the state or province in which the offense has occurred.
- Human Immune Deficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC) or any virus, complex or syndrome that is related to the foregoing or any sexually transmitted disease.
This is not intended to be a complete outline of coverage. Actual wording may change without notice.
Underwriters reserve the right to modify terms and benefits at time of underwriting.
How to Enroll
AdministratorPetersen International Underwriters
23929 Valencia Boulevard, Second Floor
Valencia, California 91355-2186
FOR ADDITIONAL INFORMATIONInsubuy®, Inc.
4200 Mapleshade Ln, Suite 200
Plano, TX 75093
Phone: (972) 985-4400
Fax: (972) 767-4470
Version: BSFTS 11/01/2017