Sentences with phrase «key man policies»

In bigger companies, executives are usually shoo - ins for key man policies.

Loan Leverage Key man policies are considered assets by lenders, which means they help improve the overall credit worthiness of a 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 employee.

Some businesses may choose to pay the higher premiums of whole or universal life insurance for key man policies.

The chief reason why term insurance is used for key man policies is its low cost.

Employers have policies referred to as key man policies that cover particularly significant employees in the event of their death.

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.

If the insured employee passes away, the key man policy's death benefit would be paid to the company free of income tax in most cases.

Key person insurance, also known as, key man insurance (a.k.a. key man policy) is a critically important form of business continuity planning.

When a business owner has an employee whose knowledge, experience, talent and / or skills are vital to the success of the business they can insure that employee with a key man policy.

«You may be very surprised to learn that your key man policy is more valuable than you think!»

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.

While significantly more expensive, there are many situations where a key man policy is crucial to obtaining financing, attracting an ideal investor, or just plain protecting the business.

MEG Financial founder and CEO Michael E. Gray, Jr. states, «in the past, cases where key person coverage was acquired but was no longer needed, the only options for the business were to let the key man policy lapse or surrender the policy for its remaining cash value.

The key man policy's death benefit could be used to pay any debts, provide employee severance, shut down the business, and distribute any remaining funds to investors.

DO N'T Let Your Policy Lapse: Once the key man policy is in effect, pay your premiums when due.

In the case that you transfer ownership of the key man policy to the employee, however, they may be liable to pay taxes, since this transfer may be considered a form of compensation.

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.

If the insured employee passes away, the key man policy's death benefit would be paid to the company free of income tax in most cases.

Unfortunately, if you have a key man policy issued after August 17, 2006 and you have not been compliant, your best bet to avoid potential income taxation may be to scrap your current policy and start over!

When your key man policy is approved we will notify you immediately.

Your key man policy becomes effective when you complete the requirements needed and submit your initial check made payable to the insurance company.

The key man policy can also be used to make up for a temporary loss of profits due to the loss of an important staff member.

Typically a businesses will use the funds received from a key man policy to cover expenses associated with finding capable replacements or to cover short term revenue deficits.

Consulting with an independent insurance professional to determine the exact need is the best strategy to assure you select the appropriate key man policy.

In some cases, the lender may even buy a key man policy on an executive in order to cover the cost of the loan if the key player dies or becomes disabled.

Partnerships may elect to purchase a special type of key man policy called survivorship life insurance.

Primarily, this tax benefit is applicable only if the main insurance policy is not issued under section 80DD or as a key man policy.

Formula's that may be used to establish a key person's value to the business for purposes of choosing the key man policy death benefit amount include:

Key person insurance, also known as, key man insurance (a.k.a. key man policy) is a critically important form of business continuity planning.

Now to why I decided to buy a return of premium term policy to fund our key man policy.

A key man policy is designed to protect your business, not your family.

A business can and should purchase a key man policy for each employee considered critical to the organization's success.

Compensation Plans The life insurance payout from a key man policy provides an influx of cash that can be used to fund compensation plans for a company's executives.

Affordable rates (10 - year level term life insurance, generally the least expensive of the market, is usually sufficient for a key man policy)

In small businesses, the owner or founder should almost always have a key man policy on themselves so the business has a lifeline to sustain if they die.

Not exact matches

«For example, your company may already hold a key - man policy on your life.

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

His emphasis on hard power and intelligence - gathering as the primary means of pursuing Canada's interests is now echoed by the current administration in Washington, which has gutted the State Department, allocated record amounts of funding to the military and appointed military - minded men in key foreign policy positions.

Arsenal fans know and understand the policy of Arsene Wenger in resting first team players in the Capital One Cup games, and even in the FA cup and Champions League games when we can, to give those key men a rest as well as giving some valuable opportunities to the up and coming Gunners from the academy and the likes of Debuchy and Gibbs who have not seen much action so far this season.

Picture this, we don't come out of the gate firing on all cylinders, Wenger speaks of how there wasn't enough time for the first - teamers to build chemistry, several key players aren't even playing because of Wenger's utterly ridiculous policy regarding players who played in the Confed Cup or the under21s and the boo - birds have returned in full flight... if these things were to happen, which is quite possible considering the Groundhog Day mentality of this club, how long do you think it will take for Wenger to recant his earlier statements regarding Europa... I would suggest that it's these sorts of comments from Wenger which are often his undoing... why would any manager worth his weight in salt make such a definitive statement before the season has even started... why would any manager who fashions himself an educated man make such pronouncements before even knowing what his starting 11 will be come Friday, let alone on September 1st... why would any manager who has a tenuous relationship with a great many supporters offer up such a potentially contentious talking point considering how many times his own words have come back to bite him in the ass... I think he does this because he doesn't care what you or I think, in fact he's more than slightly infuriated by the very idea of having to answer to the likes of you and me... that might have been acceptable during his formative years in charge, when the fans were rewarded with an scintillating brand of football and success felt like a forgone conclusion, but this new Wenger led team barely resembles that team of ore... whereas in times past we relished a few words from our seemingly cerebral manager, in recent times those words have been replaced by a myriad of excuses, a plethora of infuriating stories about who he could have signed but didn't and what can only be construed as outright fabrications... it's kind of funny that when we want some answers, like during the whole contract debacle of last season, we can't get an intelligent word out of him, but when we just what him to show his managerial acumen through his actions, we can't seem to get him to shut - up... I beg you to prove me wrong Arsene

This month, in the very week when claims of abuse in football dominated national news headlines, the Home Office published their key policy document which described how service commissioners should provide for men and boys who are victims of sexual violence, domestic abuse and other intimate crimes.

A small, polite man with a mustache and slight stammer, Mr. Reichard speaks knowledgeably and passionately about key liberal policy concerns like campaign finance reform and global warming.

That's right, the man setting Labour's economic policies sees the UK's failure as key to his own success.

Diane Abbott's presence in the race electrifies the contest not because she is a black woman (though that is not unimportant) but because she has held a very different position on a number of key policies from the New Labour government of which the four men were members.

He has developed, implemented and supported key legislation, policies and programs related to various issues such as educational opportunity and academic outcome improvements; mentoring, leadership and literacy support for targeted Milwaukee youth; poverty; neighborhood revitalization; job creation, opportunity, quality and security for Milwaukee residents; and the development, success and achievement of young men of color in Milwaukee.

No matter what is your level of risk - smoker, pilot, diabetic, key man - we can help you find the best life insurance policy for your particular situation.

Key man life insurance differs from other life insurance policies in that the business is both the owner and the beneficiary of the policy.

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

No matter the type of policy you choose, you should make sure your key man life insurance offers flexible terms.