Dynamic duos like Batman & Robin, Starsky & Hutch, and Bonnie & Clyde, all have one thing in common – they rely on each other to get the job done right. Your clients in business partnerships do the same – but, what would one do without the other?
Business partners must plan for the “what ifs” of the future. What if one partner passes, what if the other wants to retire – not often considered is what if a partner were to become disabled?
Buy/Sell Agreements will always address the event of death or retirement – and are crucial to include in any business owner clients’ plans. However, most do not identify what to do should a partner be too sick or hurt to function as a managing partner.
Reach out to your business clientele and review their business succession plan and/or their buy/sell agreements. Make certain they understand the importance of addressing a potential disability in their plan.
To ensure your clients’ succession plans will cover all of their needs – contact your DI Sales Rep for guidance.
*Source: Commissioner’s Individual Disability Table A, Equally Weighted – All Occupation Classes, Unisex
Excellence, Passion, Integrity, Collaboration and Creativity – our core values since 1974
The EPICC Center is the online source for financial professionals, designed to provide them with the essential elements they need to run their practice and increase their bottom line including breaking news, carrier / product information, market trends, sales ideas, marketing tools & resources and more.