it’s a plan for your worst days that you make during your best days and when partners are on the best terms. the most common event covered by a buy/sell agreement is the death of a partner. the buy/sell agreement outlines the actions that are taken upon the death of a partner. the most commonly overlooked event a buy/sell should also address is a disability. a well-crafted buy/sell agreement will also address this and the actions that require the disabled partner to be bought out at a specified value. upon execution of a buy/sell agreement, each partner has a life insurance policy equal to the value of their ownership interest taken out.