Final answer:
In a cross-purchase buy-sell plan, each partner needs to have two life insurance policies - one for themselves and one for each of the other partners. Therefore, there would be 6 life insurance policies required for a cross-purchase buy-sell plan with three partners.
Step-by-step explanation:
In a cross-purchase buy-sell plan, each partner purchases a life insurance policy on all other partners. So, with three partners, each partner needs to have two life insurance policies - one for themselves and one for each of the other partners.
Therefore, in total, there would be 6 life insurance policies required to insure a cross-purchase buy-sell plan with three partners.