{"id":1877,"date":"2026-10-16T00:50:50","date_gmt":"2026-10-16T00:50:50","guid":{"rendered":"https:\/\/nrcpas.com\/life-insurance-guides\/buy-sell-agreement-insurance-brokers-florida\/"},"modified":"2026-10-29T23:11:14","modified_gmt":"2026-10-29T23:11:14","slug":"buy-sell-agreement-insurance-brokers-florida","status":"publish","type":"page","link":"https:\/\/nrcpas.com\/life-insurance-guides\/buy-sell-agreement-insurance-brokers-florida\/","title":{"rendered":"Buy-Sell Agreement Insurance in Florida: Coverage Review"},"content":{"rendered":"\n
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Buy-Sell Agreement Insurance | Florida<\/p>

Plan Ownership Changes Before They Happen<\/h1>

Life insurance can be one way to fund a buy-sell agreement.<\/p>

Call us today to schedule your coverage review<\/a><\/div>
Call us today to schedule your coverage review<\/a><\/div><\/div>\n<\/div><\/div>\n\n\n

By Nischay Rawal \u00b7 Published October 15, 2026<\/p>\n\n

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A buy-sell agreement is a contract that sets the terms for buying out an owner’s share of a business when a set event happens. Life insurance is one common way to fund that buyout. This page explains how the pieces fit together in Florida and what to check before you rely on them.<\/p>\n

What a Buy-Sell Agreement Is and Who It Is For<\/h2>\n

A buy-sell agreement is a contract among business owners. It names the events that trigger a buyout, such as death, disability, retirement, departure, divorce or a sale to an outsider. The triggers and the price depend on how the agreement is written.<\/p>\n

Florida recognizes shareholder agreements that follow Fla. Stat. \u00a7 607.0732<\/a>. That section requires the agreement’s existence to be noted conspicuously on share certificates or on the information statement for uncertificated shares.<\/p>\n

Partnerships have a default rule too. When a partner leaves without ending the partnership, Fla. Stat. \u00a7 620.8701<\/a> requires the partnership to buy that partner’s interest at a buyout price set by statute.<\/p>\n

This arrangement fits co-owners of closely held Florida companies, family-owned businesses, professional practices and partnerships with more than one owner. Ask three questions: who buys, at what price, and how the money gets paid. Life insurance is one answer to the last question. The agreement itself is a legal document, and this page is general information, not tax or legal advice.<\/p>\n\n

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Not sure what your next step is?<\/h3>

Talk it through with our team — we can walk you through how a situation like yours is usually handled and what your options are.<\/p>

Schedule a coverage review<\/a><\/div>
Schedule a coverage review<\/a><\/div><\/div>\n<\/div>\n

How Life Insurance Funds a Buy-Sell Agreement<\/h2>\n

Life insurance can provide money to complete a buyout when an insured owner dies. The two most common structures are cross-purchase and entity redemption.<\/p>\n