Sentences with phrase «by key person insurance»

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From death by a thousand administrative cuts to insurance industry uncertainty to lawsuits challenging key Obamacare provisions which help people afford their out - of - pocket costs, the ACA still has plenty of challenges to withstand going forward.

Key person life insurance policies are taken out by companies on their employees, with death benefits that are paid to the company, rather than to the insured person or to their estate or heirs.

Insurance owned by the business on the owner or on another key person's life is an important part of a business plan.

The name of the policy is whatever they know it by (Key Person, ILIT, work term insurance, etc.).

For key person business life insurance, the Salary Increase rider offers owners the ability to increase the death benefit by $ 30,000 increments, up to $ 1,000,000 of additional coverage, with no proof of insurability.

Key Executive / Person Insurance Life insurance purchased by a business on a valuable employee (or owner - employee) to indemnify the business against the potential financial loss that would result in the event of that individualInsurance Life insurance purchased by a business on a valuable employee (or owner - employee) to indemnify the business against the potential financial loss that would result in the event of that individualinsurance purchased by a business on a valuable employee (or owner - employee) to indemnify the business against the potential financial loss that would result in the event of that individual's death.

If your business would be dramatically impacted by the loss of one or more of your top people, key man insurance can effectively protect against this risk and you should consider purchasing key man insurance policies to protect your company.

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.

To protect a business in the event of the death of a key employee, Key Person Insurance, payable to the company provides the owners with the financial flexibility needed to either hire a replacement or replace the financial loss incurred by the businekey employee, Key Person Insurance, payable to the company provides the owners with the financial flexibility needed to either hire a replacement or replace the financial loss incurred by the busineKey Person Insurance, payable to the company provides the owners with the financial flexibility needed to either hire a replacement or replace the financial loss incurred by the business.

Businesses can avoid many possible negative financial consequences from the loss of key people by using life insurance.

Three key plans that are often used by business owners include buy / sell agreements, cross purchase plans, and the purchase of key person life insurance.

Once called «Key Man Life Insurance», a key person insurance policy is bought by the business on an important employee and payable to the compaKey Man Life Insurance», a key person insurance policy is bought by the business on an important employee and payable to theInsurance», a key person insurance policy is bought by the business on an important employee and payable to the compakey person insurance policy is bought by the business on an important employee and payable to theinsurance policy is bought by the business on an important employee and payable to the company.

Buying a key person life insurance policy can be very helpful by making sure the company survives the loss of a key employee.

Life insurance protects your family from your financial debts and obligations after you die by providing a death benefit, but it also may be used for business purposes to compensate a company for the loss of a key person in the company.

By offering a death benefit — and in some cases, a cash value account you can access in an emergency — key person insurance can help make sure that, for your business, life will go on.

However, if you are a business owner who owns and operates your own business all by yourself, you won't need key person insurance.

The costs to secure key person life insurance are negligible when compared to the economic loss caused by the demise of the company.

Key Person insurance is life insurance purchased by the company on the life of an employee or employees whose loss would have adverse effects on the company.

Furthermore, key man insurance and other employer - owned life insurance is specifically covered under Section 1.264 - 1 (a) and states the premiums paid for life insurance on the life of any officer, employee, or person financially interested in a business carried on by the taxpayer are not deductible where the taxpayer is directly or indirectly a beneficiary of the policy.

The underwriting process begins when your key person life application and exam have been received by the insurance company.

You may want life insurance owned by your business to cover the life of a key person or to fund a business perpetuation plan.

The face amount of the life insurance policy should be determined by the key person's contribution to the company.

A Keyman Insurance Policy is nothing but a life insurance policy availed by the company or an employer on its key person's life who is currently employed by him in the Insurance Policy is nothing but a life insurance policy availed by the company or an employer on its key person's life who is currently employed by him in the insurance policy availed by the company or an employer on its key person's life who is currently employed by him in the business.

Key person or key man policies are paid for by the business and in the event that a key employee passes away, the payout from the insurance policy can be used to recruit, hire, and train a new employKey person or key man policies are paid for by the business and in the event that a key employee passes away, the payout from the insurance policy can be used to recruit, hire, and train a new employkey man policies are paid for by the business and in the event that a key employee passes away, the payout from the insurance policy can be used to recruit, hire, and train a new employkey employee passes away, the payout from the insurance policy can be used to recruit, hire, and train a new employee.

It is used by business people to cover outstanding loans, to fund buy - sell agreements in the event that a partner or shareholder dies in the initial years of a new business, or for key employee life insurance.

Pricing insurance is all about assessing risk, and insurance companies consider a person's financial reliability (largely determined by their credit history) as a key factor in determining how risky that person is to insure.

The death benefit from a key person life insurance policy is commonly used by the business to locate, train, and hire a new executive.

Key person life insurance (one of the four types of business life insurance) can help your company by providing a monetary payout to see you through the loss.

Key person life insurance policies are owned and paid for by the business, reducing the company's taxable income.

Key person life insurance is an arrangement by which a business buys a life insurance policy on the life of a key employKey person life insurance is an arrangement by which a business buys a life insurance policy on the life of a key employkey employee.

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.

• It can be used to cover the risk of business loss due to untimely death of key persons by cash strapped enterprises as key man insurance at low cost.

Keyman is a term insurance cover bought by the company on a key person's life.

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.

Life insurance makes up a key component of financial planning for those of us who have people that would be affected financially by one's death.

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.

KEY ACHIEVEMENTS • Implemented a complex data indexing system, which reduced information retrieval time by 62 % • Secured patient data by a 100 % by introducing «Patient Lock» a system that ensures complete data lockdown until an authorized person accesses it • Increased the efficiency of the insurance reimbursement system by creating and maintaining effective relationships with insurance companies on the facility's panel • Taught 15 new health information technician trainees in healthcare reimbursement methods and classification and coding systems as part of their training program