Keyman Insurance Policy Ownership
Keyman Insurance policies can be owned in a number of ways depending on the needs of the business. It is common for a business to own the policy with claim proceeds being paid directly to the business. There is no legislative or insurable requirement for a policy to be owned by a specific party or entity and there may be circumstances be it for taxation or policy continuation purposes where policies may be owned and paid for by the insured person directly, or owned by another individual.
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Famous quotes containing the words insurance, policy and/or ownership:
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—John Dos Passos (1896–1970)
“Carlyle said “a lie cannot live.” It shows that he did not know how to tell them. If I had taken out a life policy on this one the premiums would have bankrupted me ages ago.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
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—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)