Useful for many small and medium sized businesses, business continuation can be a useful element of succession planning and can be viably important to a business continuity plan. These policies usually consist of life and disability policies that are structured to meet the business continuity needs of the owners of a business, should a partner die, or become unable to participate in a company’s ongoing operations.
Business continuation polices are payable per the terms of an ownership transition contract, typically either buy-sell, cross purchase or entity- purchase agreement. This type of plan is a risk management strategy that enables remaining business partners to move forward.
Did You Know?: There are over 5 million small businesses in the United States and 53% of them do not have any business continuity life insurance plans.
The Harrin Group offers free, comparative quotes on business continuation insurance from multiple insurance carriers so you can get the best possible rate.
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