Ranger West Financial and Insurance Services

Chamber of Commerce

Group Insurance plan for companies with 1 - 10 employees.

'Premium Benefit Program

For companies with 10 - 30 employees.

Self Insuring Program

For companies with 30 or more employees.

Business - Life and Disability

What are the advantages?

Business Insurance for Partnerships
Ranger West Financial and Insurance specializes in Business Insurance for Partnerships. Did you know that when a business partner dies the partnership is automatically dissolved? ensure your partnership survives during a difficult time.

When a partner dies, the partnership is automatically dissolved by law. In the absence of an express agreement, the surviving partners face the following alternatives:

Liquidation

A forced sale attracts bargain-hunters, with assets sold at sacrifice prices

With Goodwill gone, value of the business is drastically reduced (40% to 90%)

Surviving partners are out of a job

Reorganization

Surviving partners may seek a new partner

Finding a purchaser with enough skill, money, compatibility or professional designation may be difficult

Convincing the heirs to sell for an agreeable price in time to prevent forced liquidation by creditors may be impossible Borrowing

Borrowing

The cost of borrowing to buy out a deceased partner's shares may prove extremely costly

Satisfactory credit arrangement may be difficult

:: There Is a Better Solution!

Partners agree by contract (a Buy-Sell agreement) that:

The interest of any deceased or disabled partner will be purchased by and sold to surviving partners in the event of death or disability

The value of respective nterests, or a method of determining them, will be clearly set forth

The method of financing the purchase be clearly defined

Business life and disability insurance create the funds to finance transfer of business interests thereby:

Providing sufficient cash immediately and economically

Freeing operating capital for normal business requirements

Eliminating additional borrowing or invading of personal resources

:: ADVANTAGES OF BUSINESS LIFE AND DISABILITY INSURANCE

To Surviving Partners - Guarantees full ownership of the business

To Their Heirs - Guarantees full value of their interest in the business in cash

To the Business Today - Guarantees business continuity and strengthens its position with customers, creditors and competitors

Today the choice is yours. Which will it be?

More questions? No problem... Contact us here