Business Use of Life Insurance - IHP Advisors

Business Use of Life Insurance - IHP Advisors, updated 8/31/20, 11:25 PM

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Businesses use life insurance in a variety of important ways. This article reviews the different options Life Insurance for Business Owner can be used. IHP Advisors - Salt Lake City, UT.

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Business Use of Life Insurance -
IHP Advisors
Life insurance taken on the life
of a key employee can provide
cash to finance any losses and
expenses that result from the
individual's sudden death.
Use business life insurance
for tax planning Life insurance
is an important feature of
many business arrangements.
Life insurance as an
employee benefit Life
insurance is a basic
component of many
employee benefit packages.
Split dollar life insurance, including non-
qualified deferred compensation plans Are you
seeking a low-cost method to attract, motivate,
and retain key employees? Are you also
interested in finding a way to fund non-qualified
deferred compensation plans for them? A split
dollar plan allows you to ca
Group life insurance Many
employees have come to
expect group life insurance as
part of their benefits package.
As an employee, group life
functions somewhat
differently from your
individual life insurance plan.
Life insurance in qualified plans In
addition to using life insurance to
provide a death benefit for your
employees, you can also use it to
fund your company's qualified
retirement plan.
Using life insurance together
with a qualified plan combines
the benefits of both while also
offering unique advantages to
you and your employees.
Corporate-owned life insurance How can
you assure employees that you'll be able
to meet your obligations under a non-
qualified deferred compensation plan?
You can use corporate-owned life
insurance to fund your non-qualified
deferred compensation plan.
Business credit life insurance can
make it possible-or easier-for you
to obtain a business loan by
guaranteeing its repayment
through a life insurance policy
taken on your life.
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https://ihpadvisors.inf
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