Life Insurance

We can help you protect the future of your loved ones

Whether buying a new home, starting a family or opening your own business, we can design a life insurance program to fit your needs. We offer many varieties of life insurance to meet your every need including:                                    

  • Term Insurance
  • Whole Life
  • Universal Life     
  • Group Life
  • Juvenile Insurance
  • Annuities
  • IRAs 

Business Continuation
Benefits of Buy-Sell Agreement Funded by Life Insurance
How to transfer a business without the need to sell off assets
It's not something you want to think about, but it's something you should consider. Would your business survive if something happened to you or a business partner?

Many businesses are the culmination of the dreams of two close friends and business partners. Imagine the unthinkable happens, like a tragic car accident claiming the life of one of the owners. Having proper funding for a Buy-Sell Agreement could save your company in the event of an owner's unexpected death.

What is it?

A Buy-Sell Agreement is a contract that facilitates a seamless transfer of ownership upon the death of an owner. The agreement defines who will purchase the deceased's business interest and who is obligated to sell. The agreement also establishes the selling and buying price. Funding your Buy-Sell Agreement with life insurance is ideal for:

     
  Protecting the business from the financial impact of the death of an owner.
  Providing funds to purchase the deceased owner's interest in the business.
     

A Buy-Sell Agreement can provide peace of mind for the heirs, who will not be in the position of inheriting an asset they lack the expertise to run or have no interest in managing. It can also reduce the likelihood that the business or business assets will need to be sold, potentially below market value, in order to generate cash.

To learn more about funding a Buy-Sell Agreement with life insurance from Erie Family Life, contact us.

Erie Family Life insurance products are not available in New York. Neither Erie Family Life nor its Agent representatives give tax or legal advice. Please consult your attorney or tax advisor for answers to tax-related questions.

Call Downing and Gayle Insurance for a quote today! 

919-841-1099

 
* Erie Family Life products are not available in New York.
Not all companies are licensed or operate in all states. Not all products are offered in all states. Go to erieinsurance.com for company licensure and territory information.