If your prospects cannot fully fund their buy-sell agreements, then recommend partial funding. Insurance can be used to provide a down payment, with the balance of the purchase price to be paid in installments — all of which should be spelled out in the agreement. You can always go back and sell the additional funding and get your clients to amend the terms of their buy-sell plans later.

No matter which funding arrangement is adopted, however, don't wait for clients' attorneys to do their jobs before you do the most important part of yours. As mentioned under Salary Continuation Plans, you should sell the insurance to underwrite the plan first. It's better to have the funding without the plan than to have the plan without the funding. By policy provision, Ohio National allows the business one year to develop an agreement.

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Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.

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