For life insurance funding to work with your buy - sell agreement, you must be able to get life insurance, which often involves a physical examination. (irs.com)
In this case, it is important to ensure that you have chosen an administrator who can also have access to your final expense life insurance funds. (burialinsuranceplans.org)
You can use life insurance funding if you are one of the parties specified in a buy - sell agreement to purchase all or part of the business interest held by another buy - sell participant at the other person's death. (irs.com)