A buy-sell agreement usually used with a partnership, in which the partnership agrees to purchase the interest of a deceased or disabled partner.
A buy-sell agreement usually used with a partnership, in which the partnership agrees to purchase the interest of a deceased or disabled partner.
A provision in Life Insurance contracts for death benefits that, in the early years of the contract, are less than the face amount of the policy, but that increase with the passage of time. Most commonly found in juvenile policies issued at or near age zero.