Sentences with phrase «as key man life insurance policies»

Some plans are referred to as Key Man life insurance policies.

Not exact matches

Any type of life insurance policy can be structured as key man life insurance, including either of the two primary categories of life insurance:

A key man policy can also be used as an employee benefit, since the life insurance policy can be transferred to the executive or insured employee by the company.

I will leave that question to your discretion and further review as we discuss some general benefits of using mutual whole life insurance for your key man life insurance policy.

Our primary areas of expertise include term life insurance, universal life and equity indexed universal life, disability income insurance, in - force policy review, insuring tough health issues, business insurance including business succession and key man life and disability insurance, as well as estate planning.

Representing over 80 of the nation's highest rated and most respected life and disability insurance companies, MEG's primary areas of expertise include term life insurance, universal life, disability income insurance, in - force policy review, insuring tough health issues, business insurance including business succession and key man life and disability insurance, as well as estate planning.

DO N'T Name Your Spouse As a Beneficiary: We have noticed others suggest naming a spouse for a key man life insurance policy.

From life insurance policies granted to employees as a fringe benefit to key man coverage to protect the organization against the loss of vital executives, there are many life insurance options available to the business community.

As with all key man life insurance, if the business is making the loan, the proper thing to do is to name your business, not the lender, the primary policy beneficiary.

A key man policy can also be used as an employee benefit, since the life insurance policy can be transferred to the executive or insured employee by the company.

Key man insurance is a form of term life insurance, as most policies of this type are only valid for as long as the employee remains with the company.

Whatever you decide, make sure that you are purchasing key man life insurance policy coverage that will cover all of the needs of your business, or as much as possible.

You need to understand the Notice and Consent requirements and well as the Exceptions and Record Keeping and Reporting requirements and comply with the IRS so that key man life insurance policy proceeds avoid needless taxation.

With both life insurance and key man life, there is a policy owner who makes premium payments to a life insurance company for the guarantee a specified amount of money, referred to as the death benefit, will be payable to the beneficiary.

I will leave that question to your discretion and further review as we discuss some general benefits of using mutual whole life insurance for your key man life insurance policy.

In addition, Haven Life's insurance policies can't be used for business purposes, such as using them as key man insurance.

The untimely death of an owner, partner, or key person in a business when there is no business life insurance such as a buy / sell insurance policy or key man insurance in place can be the beginning of quick end.