Two business partners own life insurance on each other. If one partner dies, which of the following contracts allows the surviving partner to use the death benefit to purchase the deceased owner's interest?

This type of insurance is designed to cover the loss of a key employee whose absence could adversely affect the business. While it provides financial protection to the business, it does not specifically address the ownership interests of partners, nor does it facilitate the purchase of a deceased partner's share.

Business continuation strategies are intended to ensure that the business can continue operating after the loss of a partner or key employee. However, this term refers more broadly to planning methods rather than the specific mechanism that allows for the purchase of a deceased partner's interest through life insurance proceeds.

Accidental death insurance refers specifically to life insurance policies that pay out only in the event of death caused by an accident. While it can provide a death benefit, it does not inherently include provisions for business ownership transfer or facilitate the purchase of a deceased partner's share, as a buy-sell agreement would.