What is Buy/Sell cover?
Buy/Sell cover protects you from any unwanted surprises in the event that a business partner passes away. This insurance cover allows the surviving owners to purchase the departing owners share in the business. This also ensures that if you pass away your family will get a cash payment, and your business partner will receive your shares in the business.
Buy/Sell agreement insurance Australia cover may also extend to total and permanent disablement (TPD) and critical illness, ensuring business succession is protected in more than just the event of death.
Frequently Asked Questions
Anyone involved in a business partnership should consider protecting their shares in the business. It’s in their business’s best interest to take out Buy/Sell cover. This cover applies across a range of business structures (companies, partnerships, and joint ventures), so whatever your arrangement, your interests can be protected.
Most businesses do not have the funds to purchase a deceased partner’s shares. Meaning, the new business partner could be their estate, spouse or children, putting your business into potentially unexpected hands.
Our team of dedicated advisers will work with you and your business partners to make sure the insurance policies and the relevant contracts put your business in the hands of the right people at the right time. Let us do the hard work for you so you can focus on building the best business you can.