Create a bespoke document in minutes, Â or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Buy Sell Life Insurance Agreement
"I need a Buy Sell Life Insurance Agreement for my family-owned manufacturing business in Penang, Malaysia, with four shareholders, where we want to ensure business continuity after any shareholder's death or retirement, with the agreement to take effect from March 2025."
1. Parties: Identification of all parties to the agreement including the business entity, shareholders/partners, and insurance company
2. Background: Context of the agreement, existing business relationship, and purpose of the buy-sell arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Purchase Obligation: Mandatory purchase and sale obligations upon triggering events
5. Insurance Policy Requirements: Details of required insurance policies, coverage amounts, and maintenance obligations
6. Premium Payments: Responsibilities and arrangements for payment of insurance premiums
7. Triggering Events: Definition and description of events that activate the buy-sell provisions
8. Valuation Method: Agreed method for determining the purchase price of business interests
9. Payment Terms: Structure and timing of payments for purchased business interests
10. Policy Proceeds Distribution: Rules for distribution and use of insurance proceeds
11. Representations and Warranties: Standard declarations about the authority to enter agreement and accuracy of information
12. Termination: Circumstances and procedures for terminating the agreement
13. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes
1. Cross-Purchase Provisions: Used when multiple owners may purchase shares directly from each other rather than through the company
2. Entity Purchase Provisions: Used when the business entity will purchase the shares directly
3. Hybrid Purchase Provisions: Used when combining both cross-purchase and entity purchase arrangements
4. Disability Buy-Out Provisions: Additional provisions for purchase obligations triggered by disability
5. Shariah Compliance: Required for agreements involving Islamic insurance (Takaful) arrangements
6. Tag-Along Rights: Optional protection for minority shareholders in certain transfer scenarios
7. Drag-Along Rights: Optional provision allowing majority shareholders to force minority participation in a sale
1. Schedule A - Insurance Policy Details: Specific details of each insurance policy including policy numbers, insurers, and coverage amounts
2. Schedule B - Premium Payment Schedule: Detailed breakdown of premium payment obligations and timing
3. Schedule C - Business Valuation Formula: Specific formula or methodology for calculating business value
4. Schedule D - Shareholders/Partners Information: Current ownership percentages and contact information
5. Schedule E - Company Information: Detailed company information including registration numbers and business address
6. Appendix 1 - Sample Notice Forms: Template forms for various notices required under the agreement
7. Appendix 2 - Medical Information Release Forms: Standard forms for release of medical information for insurance purposes
Authors
Financial Services
Professional Services
Manufacturing
Retail
Technology
Healthcare
Construction
Family Business
Small and Medium Enterprises
Trading
Hospitality
Agriculture
Legal
Finance
Corporate Secretarial
Risk Management
Compliance
Treasury
Executive Management
Board of Directors
Insurance
Chief Executive Officer
Managing Director
Company Director
Partner
Chief Financial Officer
Legal Counsel
Company Secretary
Risk Manager
Insurance Manager
Corporate Treasurer
Business Owner
Shareholder
Finance Director
Compliance Officer
Find the exact document you need
Home Buyer Seller Agreement Form
A Malaysian law-governed agreement that documents the terms and conditions for the sale and purchase of residential property.
Sale Of Personal Goodwill Agreement
A Malaysian law-governed agreement for transferring personal goodwill, including individual reputation and client relationships, from a business owner to a purchaser.
Hotel Purchase Agreement
A legal agreement governing hotel property sales in Malaysia, combining property transfer and hospitality operational requirements under Malaysian law.
Buyer And Seller Agreement Contract
A Malaysian law-governed agreement establishing terms and conditions between buyer and seller for the sale and purchase of goods or services.
Asset Purchase Agreement Installment Payments
A Malaysian law-governed agreement for asset purchase with structured installment payments, detailing sale terms and payment conditions.
Mortgage Sales Agreement
A Malaysian law-governed agreement combining property sale terms with mortgage financing arrangements, detailing property transfer and financing conditions.
Receivables Sale Agreement
Malaysian law-governed agreement for the sale and transfer of receivables, setting out terms, conditions, and obligations of the seller and purchaser.
Pre Sale Purchase Agreement
A Malaysian law-governed agreement for the purchase of property before completion, detailing construction, payment terms, and delivery obligations under local housing development regulations.
Agreement For Sale Of Machinery
A Malaysian law-governed agreement establishing terms and conditions for the sale and purchase of industrial or commercial machinery, including specifications, warranties, and compliance requirements.
Buy Sell Life Insurance Agreement
A Malaysian law-governed agreement combining life insurance with business succession planning to facilitate the transfer of business interests upon specific triggering events.
Letter Of Intent To Sell House
A preliminary document used in Malaysian property transactions outlining the intended terms and conditions for a house sale.
Form For Real Estate Purchase Agreement
A standardized agreement for real estate purchases in Malaysia, ensuring compliance with Malaysian property laws while protecting both parties' interests.
Owner Financed Sales Contract
A Malaysian law-governed agreement combining property sale and seller financing arrangements, detailing property transfer and payment terms with seller as financier.
Real Estate Sales Agreement
A Malaysian law-governed agreement for the sale and purchase of real estate property, detailing terms, conditions, and obligations of the transaction.
Download our whitepaper on the future of AI in Legal
³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.