Buy-sell insurance agreement that provides on the death of a business partner that the partnership will purchase the share of the deceased partner and the deceased partner’s estate will sell its share to the partnership. Premiums are paid by the partnership out of income and any cash value of the insurance.
Tag: MEDICAL
Partnership for Prescription Assistance (PPA)
Assistance programs used to fill gaps in Medicare Part D that are offered by pharmaceutical companies to help patients who are struggling to pay for their medications. Also referred to as patient assistance programs (PAPs).
Partnership life and health insurance
Business insurance that provides funds so that the partners in a business may purchase the business interest of a disabled partner or one who has died. Also see business-continuation insurance.
Partnership program
A program that lets TRICARE-eligible individuals receive inpatient or outpatient treatment from civilian providers of care in a military hospital or from uniformed service providers of care in civilian facilities.