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Specialty Products

As business owners ourselves, Brokers Trust Life is aware of major complications that can transpire if something were to happen to the owners of a business, whether individually owned or in partnership.

The costs associated with the incapacitation or death of a business owner or a business partner can amount to dollar amount that could impair those still involved, or the business as a whole. Depending on your situation, Brokers Trust Life offers two products that will give you peace of mind:

Key Person Coverage can be used for the following so those left behind do not have to face a potentially disastrous financial burden, including:

  • Find a replacement to carry on the business
  • Pay off standing debts
  • Distribute money owed to investors
  • Pay severance to employees
  • Cover any costs associated with closing the business

On the other hand, Partnership Coverage/Buy-Sell Agreement can be used to relieve the financial burden on the remaining partners should something happen to you. It’s an effective plan that can help you secure the business you’ve built, securing your lifestyle for you and your family.

This agreement affords for the sale of the business (in part or in whole), should something happen to an owner, or a partner such as death, disability, or retirement. If you happen to be a partner or an owner, the Life Insurance portion of your coverage can help fund you Buy-Sell Agreement.

If interested in a trusted assessment of your Life Insurance program, please email our life department, or call (905) 695-5161 or (905) 760-1515 x 204!

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