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With this plan, an employer applies for and owns a life insurance policy on a valuable employee/executive. Premiums are paid and owned by the employer. Due to the cash values and death benefits, Key Employee policies result in little or no cost to the employer and, in many cases, lead to a profit. The cash value of the policy is an asset to the employer and may be borrowed or withdrawn for emergencies or temporary working capital.
These plans can carry benefits to both the employee and employer both today and in the retirement years.
Contact Brian to determine which plan works best for you, your company and executive or employee. There can be tax and profit benefits to all the parties involved.