Sentences with phrase «key man insurance policies on»

These irreplaceable members of your business are the most important to take out key man insurance policies on.

Not exact matches

Fortunately, PRP had a $ 2.5 - million key - man insurance policy on its 56 - year - old CEO.

At a minimum, the small business owner will need to have a life insurance policy on the key man in an amount sufficient to cover the transition period that will be required in order to find a replacement for the departed salesman.

Having a key man life insurance policy protects not only the business but also all the employees and customers who rely on the business.

Key man life insurance coverage refers to a policy that a company may carry on its top executives.

With key man insurance, the company buys a life or disability policy on the life of the key person.

Regardless of how much insurance is applied for, whether life or disability, or requested by the business, an insurance company will approve a key man policy based on their interpretation of the true risk exposure.

Key man insurance provides a life policy on certain key members of an organizatiKey man insurance provides a life policy on certain key members of an organizatikey members of an organization.

For years, companies both large and small have purchased and owned both key man life and key man disability insurance policies on the lives of their strategic people so that business continuity can be maintained in the unforeseen circumstances of a death or disability.

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.

On July 27th, I received an email form Matthew in response to my on - line inquiry for a «key man» insurance policOn July 27th, I received an email form Matthew in response to my on - line inquiry for a «key man» insurance policon - line inquiry for a «key man» insurance policy.

We work with business owners on a daily basis and one of the most common questions asked is, «what is the difference between a regular life insurance policy and a key man insurance policy?»

To secure key man insurance, the business must apply for a life insurance policy on the life of the key person.

With both key man life and disability insurance, the business secures the policy on the life of the key person.

In order to borrow the funds necessary, many lenders will require a key man life insurance policy on the pastor of the church, or their elders.

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.

Key man life insurance coverage is company - owned life insurance policies (COLI) on a worker who provides an essential contribution in to the interest in the business enterprise.

Key man life insurance is an insurance policy a business buys on a key partner's, executive's, or employee's liKey man life insurance is an insurance policy a business buys on a key partner's, executive's, or employee's likey partner's, executive's, or employee's life.

It is common amongst business partners to take out «key man» life insurance policies on each other to both ease the burden of loss on the company, and to help cover the taxes on transfer of ownership to the remaining partner or partners.

Employers can take out a life insurance policy on key employees, but are not able to do so without the proposed insured's knowledge and consent (called «key man life insurance»).

Key Man life insurance - Taking out a life insurance policy on a key person in the business to help replace the value of that person to the busineKey Man life insurance - Taking out a life insurance policy on a key person in the business to help replace the value of that person to the businekey person in the business to help replace the value of that person to the business.