When you have a business partner, it is important to set up a Buy / Sell Agreement that outlines what will happen should one of the owners die, become disabled, retire, or leave the business. Having the terms outlined is excellent, but if the funds are not available to pay out the deceased or disabled family’s members, should the terms be too, then the Buy / Sell cannot be acted upon. It is crucial to purchase the insurance needed to fulfill the terms of these agreements. This type of insurance can be owned and paid for by the business.