Death of a Salesman (And His Business)

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January 2, 2006 by Dane Carlson | 1 Comment

InsureBlog:

When Bob Gross, co-owner of a local jewelry store, dropped dead of a heart attack this past July, his business died with him. Sure, it took a while, several months, in fact, for the store to succumb, but succumb it did.

A buy-sell agreement, and the means to fund it, would have saved the business, and its employees would not now – at the height of the Christmas season – be looking for jobs instead of gifts.

Such an arrangement would also have meant that his friend and business partner would not be left out in the cold, either, with no store and few prospects. And it would have also made a difference for his widow and children, who face the holidays without their husband and father, and without the income and financial stability he provided.