There are a few different types of businesses
where key man life insurance is a very good idea.
Not exact matches
A — The Adventures of Robin Hood (1938; Michael Curtiz & William Keighley) B — Band of Outsiders (1964; Jean - Luc Godard) C — City of Lost Children (1995; Jean - Pierre Jeunet) D — The Double
Life of Veronique (1993; Krzysztof Kieslowski) E — Election (1999; Alexander Payne) F — The Fountain (2006; Darren Aronofsky) G — Gentlemen Prefer Blondes (1953; Howard Hawks) H — A Hard Day's Night (1964; Richard Lester) I — In a Lonely Place (1951; Nicholas Ray) J — JFK (1991; Oliver Stone) K —
Key Largo (1948; John Huston) L — Lock, Stock, and Two Smoking Barrels (1998; Guy Ritchie) M — Mulholland Drive (2001; David Lynch) N — The Naked Kiss (1964; Samuel Fuller) O — O Brother
Where Art Thou (2000; Joel & Ethan Coen) P — Persona (1966; Ingmar Bergman) Q — The Quiet
Man (1952; John Ford) R — Rear Window (1954; Alfred Hitchcock) S — Sunrise: A Song of Two Humans (1927; F.W. Murnau) T — The Thin
Man (1934; W.S. Van Dyke) U — The Umbrellas of Cherbourg (1964; Jacques Demy) V — Vertigo (1958; Alfred Hitchcock) W — The Women (1939; George Cukor) X — X-Men (2000; Bryan Singer) Y — Young Frankenstein (1974; Mel Brooks) Z — Zodiac (2007; David Fincher)
It is useful in
key man situations
where the need for
life insurance is temporary, usually 15 - 30 years, and the business is interested in getting cash back when the insurance is no longer necessary.
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.
Flexible premium adjustable
life is useful for
key man situations
where long term coverage is needed and the ability to grow cash value at a fixed interest rate is desired.
In some cases,
key man life insurance coverage may also include a policy provision
where the insured individual may be changed — without the need to cancel the policy.