The average business owner is not prepared to have a spouse or relative step into the business in the event that they were unable to work. In most cases, any business owner would prefer passing responsibilities to someone who already understands the business and will know how to keep it profitable.
Issue a disability buy-sell option for your sole-owner business clients called a One-Way Buy-Out.
Offers the flexibility to allow a key employee of the business to purchase Disability Buy-Out (DBO) insurance to fund a buy-sell agreement between him/her-self and the owner of the business.
The process is very similar to that of a life insurance policy that funds a buy-sell agreement. The difference is, your business owner clients have an eight times greater likelihood of becoming disabled during their working years than passing away.
Contact your Disability Insurance Specialist for more information on how to properly develop a Disability Buy-Sell Agreement between the business owner and key employee.
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