NU Online News Service, April 20, 2004, 5:23 p.m. EDT – MetLife Inc., New York, has introduced a new disability insurance policy for small, multi-owner businesses.[@@]
The new Buy-Sell Protector Policy will pay up to $2.5 million in benefits to the able-bodied owners of a company when one owner becomes disabled.
The policy is available to owners in all occupational classes, and a company can use the policy together with an existing buy-sell disability policy.
Benefits include reimbursement of up to $3,000 for legal and accounting fees resulting from able-bodied owners’ purchase of a disabled partner’s ownership interest.