<Table> <Tr> <Td> </Td> <Td> This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (December 2013) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (December 2013) (Learn how and when to remove this template message) </Td> </Tr> <P> A buy--sell agreement, also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business . </P> <P> It may be thought of as a sort of premarital agreement between business partners / shareholders or is sometimes called a "business will". An insured buy--sell agreement (triggered buyout is funded with life insurance on the participating owners' lives) is often recommended by business - succession specialists and financial planners to ensure that the buy--sell arrangement is well - funded and to guarantee that there will be money when the buy--sell event is triggered . </P>

What is a buy sell agreement life insurance