Sentences with phrase «maintain life insurance policies on»

Many partnerships and small businesses maintain life insurance policies on the principles so that they can complete a buy / sell agreement that provides life insurance proceeds to the other business partners so they can buy out your interest in the business in the event of your death.

If the business maintains a life insurance policy on each of its partners — with the death benefit going to the partners — the surviving partners will be in a financial position to buy out the deceased partners interest in the business from his or her family.

Not exact matches

If your spouse is absolutely opposed the idea of having life insurance on his or her own life, you may need to buy and maintain a policy for them.

The article details an Oklahoma federal judge's decision that «employees have legal grounds to sue an insurance company for selling and maintaining secret life insurance policies on their lives.»

The Circuit Court was also reversed on its ruling that husband was required to maintain wife as a beneficiary on his life insurance policy as without statutory support in Virginia Code Section 20 - 107.3 (G)(2).

Several consent orders were made holding that Stephen would maintain Anastasia as irrevocable beneficiary on any life insurance policy.

In order to maintain life insurance coverage the policyholder must embark on a new term life policy.

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.

Maintain up - to - date beneficiary designations on your life insurance policies, pension plans and RRSPs.

While the sales pitch certainly sounds compelling on the surface, critics warn that market returns are far from guaranteed and the term nature of the insurance could make it expensive to maintain the policy later in life when premiums tend to rise sharply.

A traditional whole life insurance policy provides the policyholder with a guaranteed amount to pass on to his / her beneficiaries, regardless of how long he / she lives, provided the contract is maintained.

Having an Elizabeth life insurance policy will provide your family with coverage for your final expenses and, depending on how much coverage you have purchased, may provide enough financial stability to allow your loved ones to maintain their level of living.

Covering a specific number of years and maintaining no cash value, the premiums on term policies are usually less than those of whole life insurance.

If the hypothetical family of the insured is not entitled to the death benefit of a life insurance policy and the hypothetical person passes away, they now are stuck paying for a very expensive burial process, paying taxes on the remaining estate, and dealing with maintaining their lifestyle and providing for their well being.

Permanent life insurance, on the other hand, allows you to maintain your policy for as long as you live, even if this is to age 100.

The biggest disadvantage is the cost of maintaining premiums on two separate whole life insurance policies.

Generally speaking, and as pointed out at the top of this post, the life insurance policy you choose should be focused on replacing your future earnings to maintain your family's standard of living.

Your life insurance policy has basic information on you that should be maintained at all times.

Universal life insurance is a type of permanent life insurance with flexible premiums based on a minimum and maximum rate — as long as you continue to pay the minimum premium, the universal policy maintains its good standing; however, no equity is built and the cash value does not grow.

Taking out a life insurance policy on your parents can provide a cash payout in the event of your death that can help you maintain your standard of living.

If you tuck your policy away in a drawer somewhere and never review the coverage, you are putting your loved ones at risk of not having enough money to live on when you are no longer there to help support them, if you don't maintain the right amount of life insurance coverage.

The technical answer to what is loss of use coverage on Manhattan, NY renters insurance is «If a loss by a peril insured against under this policy to covered property or the building containing the property makes the residence premises not fit to live in, we cover at your choice either of the following:... any necessary increase in living expenses incurred by you so that your household can maintain its normal standard of living; or... the fair rental value of that part of the residence premises where you reside...»

• Accurately processed payroll as well as monitored vacation / benefit accruals independently • Actively managed wage garnishments and processed termination checks • Accepted accountability for the overall teamwork and stood responsible for meeting the deadlines • Assisted HR department with compensation and benefits for payroll related tasks like processing benefits premiums, wage ceilings, long term disability claims, life insurance, group health insurance, fringe benefits, and overtime pay analysis • Assisted internal and external auditing procedures related to payroll by following company standards and policies • Monitored and reviewed complete payroll accounts for verification of accuracy and in case of any discrepancies made appropriate corrections and updates, at the end of every month • Communicated effectively with all staff responding to their requests and inquiries related to payroll information • Correctly made payroll related general ledger journal entries for each record • Created and dispersed payroll vouchers to the company employees every month on the pay day • Created benefit audits and reports for terminated / retired employees • Maintained perfect reconciliations of balance sheet accounts related to the payroll • Executed special research projects regarding payroll management and for detailed analysis of financial facets of payroll • Gave suggestions to the management for the policy and procedure updates and refreshers related to payroll management and its financial aspects • Organized and maintained outstanding payroll checks and lists in coordination with the HR department • Managed contacts and communicated regularly with all the internal and external stakeholders ensuring effective flow of information • Organized files, accounts, ledgers, records, employee books for payroll documents and other related purposes • Prepared SDLs — Salary Distribution Journals and other distribution journals every month for payroll accounts • Processed and prepared corporate payroll using Pay Expert Application, managing all paperwork for the wire transfers and generated return funds • Processed payroll changes for new hires and terminations ensuring accuracy and timeliness of the process • Proficiently used PRG (Millennium) payroll and TMx labor scheduling software applications for effective payroll management • Resolved all issues related to payroll tax payments and reported after every pay run making sure that all filings were accurately represented by the tax service provider • Reconciled tax payments for federal, state and local payroll as well as returns for multiple authorities on montMaintained perfect reconciliations of balance sheet accounts related to the payroll • Executed special research projects regarding payroll management and for detailed analysis of financial facets of payroll • Gave suggestions to the management for the policy and procedure updates and refreshers related to payroll management and its financial aspects • Organized and maintained outstanding payroll checks and lists in coordination with the HR department • Managed contacts and communicated regularly with all the internal and external stakeholders ensuring effective flow of information • Organized files, accounts, ledgers, records, employee books for payroll documents and other related purposes • Prepared SDLs — Salary Distribution Journals and other distribution journals every month for payroll accounts • Processed and prepared corporate payroll using Pay Expert Application, managing all paperwork for the wire transfers and generated return funds • Processed payroll changes for new hires and terminations ensuring accuracy and timeliness of the process • Proficiently used PRG (Millennium) payroll and TMx labor scheduling software applications for effective payroll management • Resolved all issues related to payroll tax payments and reported after every pay run making sure that all filings were accurately represented by the tax service provider • Reconciled tax payments for federal, state and local payroll as well as returns for multiple authorities on montmaintained outstanding payroll checks and lists in coordination with the HR department • Managed contacts and communicated regularly with all the internal and external stakeholders ensuring effective flow of information • Organized files, accounts, ledgers, records, employee books for payroll documents and other related purposes • Prepared SDLs — Salary Distribution Journals and other distribution journals every month for payroll accounts • Processed and prepared corporate payroll using Pay Expert Application, managing all paperwork for the wire transfers and generated return funds • Processed payroll changes for new hires and terminations ensuring accuracy and timeliness of the process • Proficiently used PRG (Millennium) payroll and TMx labor scheduling software applications for effective payroll management • Resolved all issues related to payroll tax payments and reported after every pay run making sure that all filings were accurately represented by the tax service provider • Reconciled tax payments for federal, state and local payroll as well as returns for multiple authorities on monthly basis.

The Chasm Group, LLC and Chasm Institute, LLC (San Bruno, CA) 1997 — 2008 Business Operations Manager • Managed all daily operational tasks for leading multi-million dollar high - tech market strategy consultancy, while providing executive administration to C - level executives and venture capital partners • Developed and managed the firm's annual budget, proposing and implementing expense cuts, producing monthly reports and financial statements, and coordinating with CPA firm for accurate and timely filings • Oversaw all client relationship management efforts while cultivating new business efforts from concept to implementation, providing high - quality service in sales efforts while utilizing new lead tracking system • Negotiated and managed all contracts, stock grants, and financing arrangements, working closely with outside counsel to draft legal documents and resolve LLC - and proprietary - related issues • Led three office space build - outs and two office relocations, managing all aspects of each process under aggressive timeline and budget expectations • Reduced firm telecom expenses by 22 % by streamlining IT objectives, including migration to VOIP phone system, software / hardware purchases, domain renewals, and outsourced technical support • Directed all phases of staff recruitment while creating and implementing all HR policies and programs, including comprehensive employee benefits plans • Supervised multiple administrative staff members, conducted performance appraisals and wage / salary surveys in comparison to incentive program guidelines, and maintained HR files in accordance with legal mandates • Produced all out - going client invoices in an accurate and timely fashion to increase, cash flow and reduce aging receivables, providing consistent attention to overhead costs and vendor arrangements • Administered all company insurance policies, including E&O, general liability, bonds, partner life and disability, conducting annual benefits reviews and employee / company insurance audits • Obtained necessary certificates for consulting contracts while processing federal, state, and local business reporting requirements to maintain licenses and incorporation status • Directed all marketing efforts and oversaw logistical aspects of national educational workshop series, utilizing sponsorship arrangements to offset production costs • Transformed «brochure» website into a dynamic tool to better illustrate company opportunities through relevant case studies, as well as maintaining all other promotional media, including press kits and video Association of California School Administrators (Burlingame, CA) 1993 — 1997 Issues and Planning Committee Coordinator • Executed all phases of event planning and implementation for a membership - driven organization including 23 state committees, 5 task forces, 6 strategic planning conferences, and a conference of 1,500 attendees • Focused on facility evaluations, bid requests, site visits, contract negotiations, and all pre - and post-conference planning processes • Produced statistical and financial reports, including budget projections and cost monitoring for developmental training efforts • Oversaw all participant - level responsibilities, including inquiries, eligibility, registration, correspondence, and billing statements • Managed all legal professional standards calls for Northern California regions, including the processing of attorney authorizations, the preparation of legal assistance letters, and liens on cause of action • Served as second point of contact for computer inquiries and troubleshooting efforts as well as provided back - up executive administrative support for Executive Director, Committee Chairs, and the State Superintendent of Public Instruction • Held responsibility for software installation and hardware configuration while performing weekly AS / 400 backup and report generation

In other cases, O'Connell said, a divorce settlement might include the stipulation that one partner has to maintain their ex-spouse as the beneficiary on their life insurance policy for a certain period of time.