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An insurance agent. Normally an agent who specializes in business life and disability insurance would handle such matters as they are generally more complicated than normal everyday life, health and disability matters. Some policies have tax advantages and need to be set up in particular ways so you need someone who has had traning in these matters.
What else can I help you with?
What are the benefits of key man business insurance for protecting a company's financial stability in the event of a key employee's unexpected death or disability?
Key man business insurance provides financial protection to a company by compensating for the loss of a key employee due to death or disability. This insurance helps cover costs such as recruiting and training a replacement, maintaining business operations, and reassuring stakeholders. It safeguards the company's financial stability during a challenging time and ensures continuity of operations.
What is Key employee participation in group insurance plan?
This question does not make sense. Are you asking about "key man insurance?"
Does the beneficiary of a key man life insurance have to be the company?
The purpose of Key Man Life Insurance is to benefit the company and provide funds for them to recruit hire and train another key man should the insured die. It is the company that would suffer the loss and therefor is the beneficiary.
What are some companies associated with Key Man Insurance?
Key Man Insurance is an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business. Some companies associated with this policy include Nationwide and Mozdex.
Does Xerox buy life insurance policies on its employees with Xerox as the beneficiary?
It could with something called Key Man Insurance but not without the Key Man (or woman) signing the application in consent. It does that for it top managers, like CEO and President, but not for most of its employees.
What is Key Man Disability Insurance?
It is a life policy purchased by a business to compensate them for financial losses that would arise from the death of the member of the business specified on the policy. It can provide money to finance the recruitment and training of a replacement or to finance the buyout agreement.
What is the accounting treatment for key man insurance?
premiums are non income to the individual and non deductible to the business
Is key man insurance taxable to the person covered as is the case on group-term life insurance paid by an employer's company over 50K?
Key person life insurance is coverage on the life of a key employee and payable to the employer upon that employee's death. The purpose is to protect the company from the financial loss associated with the loss of the employee. Since the employee in no way benefits from a key person life insurance policy, there are no tax consequences to the employee.
Is Key Man insurance taxable?
No it is not. It is recorded as revenue for GAAP purposes, but is not considered business income. 10/18/2008
Who is a logical candidate for disability insurance?
You can get disability coverage after a disability under certain conditions. It depends upon the cause of your disability and how long you have been recovered. Each carrier has different underwriting standards. Some insurers will offer a guaranteed issue to employer groups. Your ability to get coverage will depend upon the required percentage of eligible employees electing coverage. Obtaining private disability insurance after sustaining a disability may be more tricky, because disability insurance is medically underwritten. From the insurer's perspective, it does not have the same "law of large numbers" with an individual policy (because only one person is insured), as it does in a group disability policy. In most cases, the initial disability will be ridered (meaning that there will be no coverage for it, and perhaps, related causes).
A man who sells clothes is called?
A man who sells men's clothing is called a haberdasher and the store is called a haberdashery.
What disability was involved in the movie rain man?
Autism
