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business continuation insurance

When a business owner dies, business continuation insurance provides money to ensure the business can continue.

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That money might be used to allow a surviving partner or joint owner to buy the deceased's portion of the business from their estate. The estate and surviving family may not want the business, yet they need the money. Life insurance provides the money to allow that to happen.


insurance to fund a buy-sell agreement.

Related Terms

A business continuity plan (BCP) is a written document summarizing steps to take in the event of a...