Sentences with phrase «of key man»

For most businesses, 5 - 10 years of the key man's compensation will be sufficient and affordable.

Advantages of Key Man Life Insurance 4.

The benefits of key man life insurance are:

For most people in their 30s, business life insurance will take the form of key man insurance, although some business owners may need to consider buy - sell life insurance.

Business people use low cost life insurance to protect the business in the event of the death of a key man or key employee.

The money to pay this person would come from the proceeds of your key man life insurance policy.

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

There are various types of key man life insurance coverage that may be used.

The purchase of key man life insurance should be a consideration for any business looking to protect itself.

This option can also be ideal if it's for business purposes if you own your own business or in the case of key man or buy - sell agreement life insurance policies.

The general insurance company guidelines for the amount of key man life insurance available are as follows:

The two main kinds of key man insurance are life and disability.

Call MEG Financial today at [phone] and an insurance professional can assist you with the questions above and provide you with detailed answers to all of your key man insurance questions.

In many cases the amount of key man insurance requested is dramatically higher than is available from the life and disability insurance companies.

For example, just because a firm is borrowing $ 10,000,000 for a project expansion doesn't mean the insurance company will willingly write $ 10,000,000 of key man life or disability insurance.

No life insurance company will base the amount of key man life insurance allowable on a Pro-Forma projection which may, or may not, come to pass.

However, an often overlooked use of key man life insurance is to provide supplemental retirement benefits to YOU, the business owner.

Every possible outcome should be carefully considered before determining the amount and type of key man life insurance.

If you have questions regarding the amount of key man life or key man disability insurance needed, please call MEG Financial at [phone] or complete a simple online form now.

The health of the key person is the most critical factor in determining the price of a key man life insurance policy.

An example of the multiples of income approach would allow $ 1,000,000 of key man insurance on an executive making $ 200,000 in compensation and benefits assuming a 5 times multiple.

This form of key man life insurance is also usually a term life insurance policy.

The monthly payout option states that after the initial, elimination period of 30 - 90 days, benefits are payable at a monthly stated amount for the life of the key man disability policy which is usually 6 - 24 months depending on the company's need.

A: Ultimately, the cost of any key man life insurance policy is determined by three things: age, health and amount and duration of the insurance policy.

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.

It's important to note that if you're trying to insure an older or less healthy employee the cost of key man life insurance can be incredibly high.

The ultimate goal should be to get the right amount of key man insurance to achieve your company's objectives and not a dime more.

And the best part of the deal is the cost of key man insurance is relatively inexpensive and it is easy to obtain in most cases!

Typically, the cost of key man life insurance is not tax deductible; premiums must be paid with after - tax dollars.

However, in some instances, the amount of key man life coverage needed may exceed the limits of traditional insurance providers.

Find the complete details and requirements for reporting corporate owned life insurance in the article «The Pension Protection Act of 2006 and the taxation of key man insurance.»

As for key man disability insurance, it can be a little more difficult as there are relatively no «traditional» underwriters of key man disability coverage.

In the case of key man insurance, the value of the employee or executive may be measurable, in which case 5 - 10X annual production is appropriate.

If you're borrowing money, the lender may require a certain amount of key man coverage.

It's important to note that if you're trying to insure an older or less healthy employee the cost of key man life insurance can be incredibly high.

Spurs could face a battle to keep hold of key man Harry Kane and Dele Alli when this season comes to a close and the summer transfer window opens.

«In a growth situation, the value of your key man keeps changing, so it makes sense to recheck your coverage levels yearly,» Whiting advises.

Or would his signature be to replace one of our key men?

Consequently, Manuel Pellegrini could rest many of his key men, giving Chelsea the chance to secure a big win.

The manager lost all sorts of key men like Alexis Sanchez, Welbeck, Cazorla and Coquelin for long periods while the winners Leicester City were able to select the same starting XI almost every week.

He was, according to the U.S. Department of Justice, one of the key men in a scam of incredible proportions in New York.

As always, the AFCON — bunged slap bang in the middle of the season — robbed Prem clubs of key men at a vital time in the season... especially as our Mo was busy scoring for Egypt in the final.

Chelsea could be without two of their key men against West Bromwich Albion this Wednesday, with Eden Hazard and Diego Costa major doubts for the Premier League clash, according to Goal.

To compound things, there have been rumours that the former Everton coach does not enjoy a good relationship with many of his key men, and there may be some dressing room collusion in order to axe him from his position.

Alex Apati of Ladbrokes said: «Wenger may have to accept he'll lose two of his key men in the next few months, but the latest odds suggest Griezmann may just soften that blow by agreeing to trade Atleti for Arsenal.»

Herrera would like to see one of his key men play more regularly and believes there would be a lot of cubs interested in taking the 26 - year - old.

The 31 - year - old has established himself as one of the key men in defence for manager Arsene Wenger but recent reports have claimed that the arrival of Sead Kolasinac means that he will leave the Emirates.

To further accelerate Klopp's pursuit of new players this winter, Liverpool have been struck by a terrible injury curse to a host of their key men and a couple of new names arriving at Anfield seems just a matter of... [Read more...]

Wenger generally picked a stronger team than I expected ahead of Wembley, but there didn't appear to be any injuries, so it was positive that most of the key men for the final were able to sharpen their match fitness.

He struggled to make an impact in his first few games at the club but eventually became one of the key men for the club.