9:00 AM to 5:00 PM
Monday to Friday
appointments are suggested
SHAREHOLDER BUY-OUT INSURANCE
If your business partner suddenly dies or becomes disabled where will you get the money to buy him or her out?
If your business partner dies how will you react?
The spouse of the deceased will inherit their share of the ownership in the company. Do you want to partner with their spouse? Can the spouse fill the role of your business partner? As part owner the spouse will be entitled to profits and dividends.
How can you buy them out?
- Use your own capital? Sell your house? Cash in your RRSP’s?
- Find a new investor/partner? Who?
- The bank? Will they lend you the money when your business is in peril?
And at what interest rate?
The solution is to use Buy/Sell Life insurance. Each business partner is insured for their ownership in the company. Should a partner die the insurance proceeds are used to buy out the shares of the deceased.
Buy/Sell Life insurance is planned for ahead of time. It is guaranteed to be there when you need it and is far more cost effective than a bank loan.
Please contact us if you have questions
or would like us to prepare a custom service
package based on your needs.
Tel : (250) 881-2423
Victoria Office, 670 Newport Ave
Victoria, BC V8S 5C7
North island Office, 3713 Shoreline Drive,
Campbell River, B.C. V9H 1L8
R. E. Reynolds Investments
& INSURANCE SERVICES LTD.
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