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Uninsurable business associate in buy-sell arrangements. (Blue Chip Strategies).

Publication: Franchising World
Publication Date: 01-APR-03 		Format: Online - approximately 919 words
Delivery: Immediate Online Access

Article Excerpt
Many times in the course of designing a business continuation plan, it develops that one of the partners or stockholders is either uninsurable or heavily rated.

This should not stand in the way of completing the development of the buy-sell plan. In fact, if one of the owners has impaired health, implementation of a business purchase plan becomes even more important. In the case of the owner who is rated but still insurable, issuance of the policy and payment of the rated premium is usually the wise course since the amount of rating attached to the premium represents a fair assessment of the owner's shorter life expectancy. However, if the rated premium is more than can be afforded or if he or she is completely uninsurable, then other solutions will have to be found.

There are a...

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