If you own a business, a properly structured insurance program can be used to fund a buy-sell agreement, protect against the death or disability of a key person, or ensure a business continuation by providing a temporary source of cash flow.

At any given time, 40% of U.S. businesses are facing issues related to the transfer of ownership. Business owners must decide what to do with their businesses. Their options include closing the business, selling the business to a third party or passing ownership and control to a succeeding generation. Regardless of the business owner's decision, planning is of paramount importance. The creation of a succession plan, a financial plan for retirement and an estate plan will ensure a smooth transition of ownership.