Sentences with phrase «key person coverage»

«Banks often require key person coverage so that their loans to a business are well protected and will be paid back if something happens to the business's key person.»

Key person coverage is a form of business insurance because there are some employees whose loss would irreparably damage a business's ability to function and others who would be difficult and expensive to replace.

Depending on who you want to insure, the calculation for how much key person coverage you need will change significantly.

Business uses may include: key person coverage, funding buy / sell agreements or special executive compensation arrangements.

Company - owned life insurance to pay for things like key person coverage and to fund a buy - sell agreement

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.

Use this type of coverage to protect family income, for estate planning, for extra retirement income or philanthropy or to protect your business with buy / sell agreements, key person coverage or compensation arrangements.

Not exact matches

I think one key issue is to have guaranteed coverage for the 47 million people who have no health insurance.

«Providing more live coverage of the key political debates and discussions has meant that during 2015, a dramatic year in politics, we've seen a surge in people using BBC Parliament to follow proceedings.

Critics tend to judge Olympics coverage by a few key metrics: How many mistakes did the commentators make, and how many people are actually watching the games in prime time?

Regulating the market helps control how life insurance coverage availability is offered to high - risk individuals.Other key functions of state regulations include agent and broker licensing to maintain a high caliber of insurance professionals and consumer services that give people options for resolving insurance issues and comparing their options.

It can be challenging to identify key persons and quantify a key person's value to the business in order to establish the amount of coverage needed to compensate the business for the loss.

The idea that people sometimes «recoil» from frequent coverage that «imposes» a concern might be helpful to the degree that it causes the media to make sure that facts are accurate, that problems are stated clearly, that key credible spokespersons are used, that problems are covered with the authentic frequency and priority that they deserve, and so forth, but IF the quality and honesty of coverage are good, then people (i.e., the public) may actually begin to understand the problem, vote for responsible candidates, and change their own behaviors where warranted.

If an imposter obtains key personal information such as a Social Security or Driver's License number, or other method of identifying an insured person in order to impersonate or obtain credit, merchandise or services in the insured person's name, the Outreach plans provide coverage for up to $ 500 for the reasonable, customary and necessary costs incurred by the insured for: re-filing a loan or other credit application that is rejected solely as a result of the stolen identity event; notarization of legal documents, long - distance telephone calls, and postage that has resulted solely as a result of reporting, amending and / or rectifying records as a result of the stolen identity event; up to three credit reports obtained within one year of the insured person's knowledge of the stolen identity event; and stop payment orders placed on missing or unauthorized checks as a result of the stolen identity event.

Key Person Insurance — This type of coverage protects your business if you have a key person, executive or salesperson that your business could not survive withoKey Person Insurance — This type of coverage protects your business if you have a key person, executive or salesperson that your business could not survive wiPerson Insurance — This type of coverage protects your business if you have a key person, executive or salesperson that your business could not survive withokey person, executive or salesperson that your business could not survive wiperson, executive or salesperson that your business could not survive without.

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 person insurance can also benefit from choosing permanent coverage.

Common coverage needs are divorce decree, venture capital, bank loan, personal loan, buy / sell agreement, key person, movie production, surrogate mother, business agent, or outstanding invoices.

While marketing for term life insurance to a younger generation would involve highlighting that buying early can save people money in the long run, the emotional impact of discussing final expense insurance coverage, its affordability, its relative ease in terms of comparison to a traditional life insurance policy and the fact that it gives a great deal of peace of mind for someone approaching retirement and beyond are some of the key ways that a final expense agent can assist with this purchase and encourage people to take that final step of obtaining a policy.

The amount of coverage available for key person insurance will be dependent upon the financial risk associated with the reason for buying the protection.

If an imposter obtains key personal information such as a Social Security or Driver's License number, or other method of identifying an insured person in order to impersonate or obtain credit, merchandise or services in the insured person's name, thePatriot Platinum plans provide coverage for up to $ 500 for the reasonable, customary and necessary costs incurred by the insured for: re-filing a loan or other credit application that is rejected solely as a result of the stolen identity event; notarization of legal documents, long - distance telephone calls, and postage that has resulted solely as a result of reporting, amending and / or rectifying records as a result of the stolen identity event; up to three credit reports obtained within one year of the insured person's knowledge of the stolen identity event; and stop payment orders placed on missing or unauthorized checks as a result of the stolen identity event.

We also offer a variety of unique commercial insurance solutions, including critical illness / disability coverage, as well as a key person insurance, loan protection insurance and buy / sell funding — all of which can protect you in the event that a key management team member is unable to maintain their position due to injury, illness or death.

Key person life insurance is another type of coverage that is oftentimes used with protection of a business.

Key man insurance, a.k.a. key person insurance or key employee insurance, is coverage that will protect the company or business in the case of an untimely death or disability of a top salesperson, executive or business ownKey man insurance, a.k.a. key person insurance or key employee insurance, is coverage that will protect the company or business in the case of an untimely death or disability of a top salesperson, executive or business ownkey person insurance or key employee insurance, is coverage that will protect the company or business in the case of an untimely death or disability of a top salesperson, executive or business ownkey employee insurance, is coverage that will protect the company or business in the case of an untimely death or disability of a top salesperson, executive or business owner.

Regulating the market helps control how life insurance coverage availability is offered to high - risk individuals.Other key functions of state regulations include agent and broker licensing to maintain a high caliber of insurance professionals and consumer services that give people options for resolving insurance issues and comparing their options.

The insurance provides coverage to cope with the financial losses the business experiences when something happens to the key person.

Key man disability insurance is a unique form of disability coverage designed specifically for the threat of a short term loss of a key person due to a disabling accident or illneKey man disability insurance is a unique form of disability coverage designed specifically for the threat of a short term loss of a key person due to a disabling accident or illnekey person due to a disabling accident or illness.

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

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.

You can purchase more coverage with term life, which is beneficially when covering a large mortgage on your home, protecting the primary wage earner of the household, key person life insurance, or covering a small business loan.

If an imposter obtains key personal information such as a Social Security or Driver's License number, or other method of identifying an insured person in order impersonate or obtain credit, merchandise or services in the insured person's name, the Patriot Multi-Trip plans provide coverage for up to $ 500 for the reasonable, customary and necessary costs incurred by the insured for: re-filing a loan or other credit application that is rejected solely as a result of the stolen indentity event; notarization of legal documents, long distance telephone calls, and postage that has resulted solely as a result of reporting, amending and / or rectifying records as a result of the stolen identity event; up to three credit reports obtained within one year of the insured person's knowledge of the stolen identity event; and stop payment orders placed on missing or unauthorized checks as a result of the stolen identity event.

One of the other key factors that can have an effect on the amount that a person pays for life insurance coverage is whether or not they are a smoker.

They are useful in situations where term insurance can not be purchased due to the age of the key person or when coverage needs to be extended over a person's lifetime.

The goal when valuing a key person for life and disability insurance is to get the correct amount of coverage based on the specific needs of the business but that also corresponds to the realistic loss associated with the death or disability of the key employee from the insurance company's viewpoint.

This insurance provides coverage for the key person death or disability that would bring financial insecurity to the company

The goal when valuing a key person for life insurance is to get the correct amount of coverage (not under - insured or over-insured) based on the specific needs of the business.

Key man insurance, otherwise known as key person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business ownKey man insurance, otherwise known as key person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business ownkey person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business ownkey employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business owner.

It's insurance coverage on the life of a key person of a business.

If a business applies for coverage on an employee, underwriters typically need a description of why this person is a «key» person and they check to make sure coverage is no more than 5 - 10 times the annual compensation.

If an imposter obtains key personal information such as a Social Security or Driver's License number, or other method of identifying an insured person in order to impersonate or obtain credit, merchandise or services in the insured person's name, the Patriot GoTravel plans provide coverage up to $ 500 for the reasonable, customary and necessary costs incurred by the insured for: re-filing a loan or other credit application that is rejected solely as a result of the stolen identity event; notarization of legal documents, long dis - tance telephone calls, and postage that has resulted solely as a result of reporting, amending and / or rectifying records as a result of the stolen identity event; up to three credit reports obtained within one year of the insured person's knowledge of the stolen identity event; and stop payment orders placed on missing or unauthorized checks as a result of the stolen identity event.

In offering the new coverage, Prudential has partnered with ÆQUALIS, a financial services startup serving HIV - positive people, which has researched medical underwriting, life expectancy and other data on HIV / AIDS and has been key to developing the product.

A few areas where coverage can really help a business is key person insurance, or to help cover Small Business Association or business loans.

Yet another key item that people may not be aware of when buying a life insurance policy — but should be — is the importance of the insurance company that they are obtaining the coverage through.

In addition, using permanent coverage for key person insurance or to provide employee benefits can make or break a business.

You can transfer the coverage to the new employee who has now become the key person.

It can be challenging to identify key persons and quantify a key person's value to the business in order to establish the amount of coverage needed to compensate the business for the loss.

The most effective way to get the best coverage and pricing for key person insurance is to contact an independent insurance professional who knows and understands your business.

For small businesses with one or two key employees or owners, the article says key person or life insurance coverage may be a smart move to ensure funds are available to keep the enterprise up and running in the case of an unforeseen accident.

Once you've identified the key people on your team, you'll want to get an idea of how much coverage to purchase for each person before you speak with a life insurance agent.

After identifying your key people, you can start to run preliminary estimates of how much coverage you should buy for each person using this formula: