A contract with an insurance company that is purchased by a small business owned by two or more people. If one owner dies, the surviving owner(s) receive(s) money from the policy, which they can use to buy from the decedent’s surviving spouse their share of the business. These insurance policies provide liquidity, alleviating the concern that the surviving business owners might find themselves in business with a deceased partner’s heirs who know nothing about the business and who have no interest in working in the company – while simultaneously giving cash to the decedent’s heirs for an asset that is otherwise not liquid. See Life Insurance