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SAMPLE Life, Accident & Health Online Practice Exam Simulator
 
 
Question:
Upon the death of a principal, the remaining principals receive a policy amount equal to the purchase price of the deceased partner's share of the business. This scenario would be best covered by:
 
Any agreement among owners of a business that addresses the passage of a business interest, death, disability, or retirement is known as a buy-sell agreement.
Answer Choices:Select the Correct Answer
Buy and Sell Agreement.
A 303 Redemption Plan.
Key Employee Insurance.
Split Dollar Insurance.
 
 
 
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