Prepare for the transition of ownership of your business.
Someday, the business you’ve worked hard for could become your legacy—or a source of retirement income. Creating an exit or succession plan now can help ensure your business will transition as smoothly as possible when it’s time to pass it on.
Read more about business life cycles and how to prepare your business (and yourself) for every stage of its life:
Taking care of your business and more—at every stage
View PDFCreate an exit or succession strategy.
Principal® offers several options for helping you plan for the sale or transfer of your business. Solutions focus on maintaining your business’s full value for the benefit of everyone involved.
Buy-sell agreement
This prearranged contractual agreement between a buyer and seller defines triggering events for a sale, such as voluntary termination, death, or total disability, and outlines price and other terms.
Agreements can be funded with a variety of insurance solutions, including permanent and term life insurance or disability buy-out insurance.
Talk with a financial professional.
Talk to your financial professional to help you assess and meet your succession planning needs. Don’t have one? We can help.
Find a financial professionalThis content is intended to be educational in nature and is not intended to be taken as a recommendation.
Insurance products issued by Principal National Life Insurance Company® (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Reference companies are members of the Principal Financial Group®, Des Moines, IA 50392.
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