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" ... Keyman insurance is a business insurance policy owned directly by the partnership. The partners of the business or keyman are the insureds and the partnership is the beneficiary under the policy. When either keyman dies, the business receives the proceeds of the policy. Depending on how the partnership agreement is drafted, the keyman insurance proceeds may be paid to the partner’s estate to purchase their shares in the partnership in one lump sum, installment payments with interest or without interest, or as a hybrid with a lump sum and installments. ... "