When multiple partners or shareholders are involved in a business, it’s vital to address the risk of a key person from dying or becoming disabled. Buy and Sell Agreements can prevent the serious complications that can arise from the unwanted transfer of shares, loss of voting control, or even forced sale. These agreements are normally paired with corporately owned permanent life insurance policies that cover the buyout costs. Key person insurance is also useful to protect against the loss of a critical employee. These policies can either be term or permanent and depending.