Document background
The Buy-Sell Agreement Life (Insurance) is a crucial document for businesses operating in Ireland seeking to establish clear succession planning and business continuity measures. It is particularly relevant for companies with multiple owners who want to ensure smooth transition of ownership interests in the event of an owner's death. The agreement combines standard buy-sell provisions with life insurance funding mechanisms, ensuring that surviving owners have the financial means to purchase the deceased owner's interest while providing the deceased owner's estate with fair compensation. This document is structured to comply with Irish insurance regulations, corporate law, and tax requirements, making it suitable for both private companies and professional practices operating under Irish jurisdiction. It includes detailed provisions for policy maintenance, premium payments, valuation methods, and transfer procedures, while addressing specific requirements of Irish insurance and corporate law.
