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Business Equity Protection

Business Equity Protectorâ„  provides funding for business partners to purchase an owner's interest in the business through a buy-sell agreement if the owner becomes totally disabled. This coverage makes sure the insured individual receives compensation for the ownership interest while allowing the other owners to carry on the business.

Included in Every Policy

Total Disability Benefit

If your client become totally disabled, as defined by the policy, we will pay benefits to assist in the funding of the purchase of his or her ownership interest in the business. We can pay the benefits in a single lump sum or over a period of time.

Waiver of Premium Benefit

We waive all premiums due under the policy while disability or recovery benefits are payable.

Legal/Accounting Fee Benefit

We will reimburse your client up to $3,000 for reasonable legal and/or accounting fees that he or she paid or owes in order to carry out the terms of the buy/sell agreement.

Policy Transferability and Convertibility

If we have not paid benefits after the policy has been in force for two years, your client can transfer the coverage to a new owner and receive insurance under a similar policy without medical evidence.

Policy Renewability

We will not change the premiums for the policy while it is in force. Your client can continue the coverage for as long as he or she pays the premiums on time or until one of the dates specified by the policy.

Optional Riders

Extended Benefit Option Rider

This rider delays the reduction of policy benefits until age 65 and provides reduced coverage until the policy anniversary after your client reaches age 70.

Future Buy-Out Expense Option Rider

This rider offers an opportunity to periodically increase the buy-out policy benefits to keep pace with business growth.

Contact your General Agent to learn more about Business Equity Protection.

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