Sentences with phrase «as key person life insurance»

Coverage is available for all family members and can also be used for strategic business planning such as key person life insurance coverage.

This is an excellent rider to consider and is very beneficial in cases of business owners, such as key person life insurance or in a buy - sell agreement.

One reason to buy term life insurance is to use it as key person life insurance.

It even has a few benefits as key person life insurance if a simple death benefit is the goal.

Not exact matches

People who need permanent life insurance protection but wish to take advantage of possible cash accumulation via an equity index might use IULs as key person insurance for business owners, premium financing plans or estate - planning vehicles.

(Small businesses may wish to consider purchasing life insurance policies for key individuals, such as an owner or top employee, to help prevent financial distress if that person were to die.)

Key person insurance does not have a legal definition and does not refer to a type of insurance but rather to the use and application of life insurance or long - term disability insurance, as it applies to the loss of a key business persKey person insurance does not have a legal definition and does not refer to a type of insurance but rather to the use and application of life insurance or long - term disability insurance, as it applies to the loss of a key business perskey business person.

Business owners who are looking at the long game may also benefit from both when considering needs such as key person (key man) life insurance.

Applicants can now access a wide variety of policy options to meet their personal needs, including products such as mortgage life insurance, decreasing term life insurance, key person insurance, credit life insurance, and many others.

AND using cash value whole life insurance from a mutual company for this strategy as opposed to other types of life insurance such as universal life or term life insurance offer some additional incentives for your key people.

The HECV policy is designed for executives, such as key person insurance, with significantly higher early cash value than traditional whole life policies.

This specific type of whole life insurance offers substantial benefits to key people due to the steady accumulation of cash value within the policy and the flexible access to cash, as well as favorable tax treatment.

Structuring the life insurance on a key person in such a way as to incentivize the key person to remain at the business until fully vested in the life insurance policy is a fantastic way to promote strong employee loyalty.

The IUL also has a cash value, and is a form of permanent insurance, which is ideal for business succession planning such as funding a buy sell agreement with life insurance or key person insurance.

And on certain life insurance policies, such as those used to fund buy sell agreements, irrevocable life insurance trusts or key person business insurance, a better rate class may mean thousands of dollars in savings.

Please note if you are purchasing life insurance on a key employee or individual, this is commonly referred to as «key man life insurance» or «key person life insurance».

Key Person Insurance Also known as Key Man insurance, Key Woman Insurance, or Business Life IInsurance Also known as Key Man insurance, Key Woman Insurance, or Business Life Iinsurance, Key Woman Insurance, or Business Life IInsurance, or Business Life InsuranceInsurance.

Typically designed so that the surviving business partner would have the money to purchase the company interests, life insurance for businesses can also be structured as «key person insurance,» where if a key employee dies the business owner will receive a benefit to help offset the financial impact of losing the key employee.

Key man insurance, commonly referred to as key person insurance, is essentially life and / or disability insurance purchased by a business on the life of a key employee or business owner to offset financial losses that would arise from his or her death or extended illneKey man insurance, commonly referred to as key person insurance, is essentially life and / or disability insurance purchased by a business on the life of a key employee or business owner to offset financial losses that would arise from his or her death or extended illnekey person insurance, is essentially life and / or disability insurance purchased by a business on the life of a key employee or business owner to offset financial losses that would arise from his or her death or extended illnekey employee or business owner to offset financial losses that would arise from his or her death or extended illness.

There are two important products for you as a small business owner to consider Buy - Sell Protection and Key Person Life Insurance.

Key person insurance does not replace a personal life insurance policy, as none of the money from key person insurance would go towards family membeKey person insurance does not replace a personal life insurance policy, as none of the money from key person insurance would go towards family membekey person insurance would go towards family members.

As you can guess from the name, these plans will allow you to purchase life insurance coverage (either for yourself or for a key person in your business), without having to take a medical exam.

To secure these much needed funds, lenders, as well as investors, will normally require the business to purchase key man life insurance on their key people.

If life events cause key persons to leave the company, life insurance can help protect the business» future here as well.

(Some people buy term life insurance as key person insurance, insuring a key person in their organization.)

Permanent life insurance is generally recommended for long term planning such as funding a buy sell agreement, estate planning, or key person business insurance.

Structuring the life insurance on a key person in such a way as to incentivize the key person to remain at the business until fully vested in the life insurance policy is a fantastic way to promote strong employee loyalty.

Business owners who are looking at the long game may also benefit from both when considering needs such as key person (key man) life insurance.

(Small businesses may wish to consider purchasing life insurance policies for key individuals, such as an owner or top employee, to help prevent financial distress if that person were to die.)

Buying life insurance on the life of such a person is known as key man, or key employee, life insurance.

Key person insurance does not have a legal definition and does not refer to a type of insurance but rather to the use and application of life insurance or long - term disability insurance, as it applies to the loss of a key business persKey person insurance does not have a legal definition and does not refer to a type of insurance but rather to the use and application of life insurance or long - term disability insurance, as it applies to the loss of a key business perskey business person.

If losing a partner or key employee would jeopardize your ability to continue successful administration and operation of your business, you might consider key person (sometimes known as «key man») life insurance to protect your company.

Definition: Key Person Insurance is any type of life insurance that is purchased by the business organization on the life of the key person or persons, with the organization listed as the beneficiaKey Person Insurance is any type of life insurance that is purchased by the business organization on the life of the key person or persons, with the organization listed as the benefiPerson Insurance is any type of life insurance that is purchased by the business organization on the life of the key person or persons, with the organization listed as the benInsurance is any type of life insurance that is purchased by the business organization on the life of the key person or persons, with the organization listed as the beninsurance that is purchased by the business organization on the life of the key person or persons, with the organization listed as the beneficiakey person or persons, with the organization listed as the benefiperson or persons, with the organization listed as the beneficiary.

Interesting case because literally what the key man life insurance is for is to cover this young guy as the central and only important key person in his company, the guy that has to catch sharks and other large salt and fresh water fish for a living.

AND using cash value whole life insurance from a mutual company for this strategy as opposed to other types of life insurance such as universal life or term life insurance offer some additional incentives for your key people.

In the event that additional life insurance was purchased as key - person insurance, that money could be used by the business to offset any income loss resulting from the owner's death.

This specific type of whole life insurance offers substantial benefits to key people due to the steady accumulation of cash value within the policy and the flexible access to cash, as well as favorable tax treatment.

Definition: Key Person Insurance is life insurance purchased by the business organization on the life of the key person or persons, with the organization listed as the beneficiaKey Person Insurance is life insurance purchased by the business organization on the life of the key person or persons, with the organization listed as the benefiPerson Insurance is life insurance purchased by the business organization on the life of the key person or persons, with the organization listed as the benInsurance is life insurance purchased by the business organization on the life of the key person or persons, with the organization listed as the beninsurance purchased by the business organization on the life of the key person or persons, with the organization listed as the beneficiakey person or persons, with the organization listed as the benefiperson or persons, with the organization listed as the beneficiary.

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.

Key man life insurance can be structured as a bonus to the key person upon retiremeKey man life insurance can be structured as a bonus to the key person upon retiremekey person upon retirement.