- Insurance with Investment component
- Offers potential gains over time
- Flexible investment options
As a business owner, you need to prepare for uncertainties such as losing a business partner and ensure a smooth transition with a buy-sell agreement. With Sun MaxiLink Prime, you and your partners will have ready cash for a buyout plan.
Business Succession through a Buy-Sell Agreement
For most family-owned businesses, the ownership of company shares is usually kept within select family members. Should any of the owners pass away, the business shares of the deceased owner will legally pass on to the heirs. This can be a dilemma especially if the intention is to prevent non-family members and unwanted heirs from joining the business.
This common dilemma in business succession is usually managed through a Buy-Sell Agreement. If your business has multiple owners, a buy-sell agreement offers protection to both the owners and the business in case of an unforeseen event. It sets out the conditions in which an owner has the right to buy the ownership share of another owner. In a buy-sell agreement, life insurance proceeds can be used by the company or business partners to buy out the deceased partner's shares.
Why business owners need a Buy-Sell Agreement
Prepare for uncertainties such as the loss of a business partner or shareholder and ensure a smooth transition with a buy-sell agreement.
WIN-WIN Solution
For the company or business partners
- Provides capital to buy out the shares of the deceased partner
- Allows smooth transition
- Ensures continuity of ownership and control
For the family or heirs
- Offers fair valuation of shares based on an agreed method
- Provides liquidity with cash being readily available
- Allows them to pursue their own interests
Our Solution
Sun MaxiLink Prime / Sun MaxiLink Bright / Sun MaxiLink 100
You may also consider these product solutions for Buy-Sell Agreements.
SUN Smarter Life Classic
- Double Insurance Coverage
- Lifetime Protection
- Guaranteed Cash Value & Dividend Earnings
Sun Safer Life
- Maximum Protection at an affordable cost
- Long-term renewability
- Hassle-free conversion
Notes:
1. Benefits indicated above are subject to contestability provisions, exclusions and/or provisions on pre-existing conditions, specific guidelines set by Sun Life and the actual provisions of the insurance policy contract.
2. Dividend earnings are not guaranteed.
Financial Planning for Business Owners
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