mouthpiece
< 25 Posts
I probably should know the answer to this, but here goes:
Can Key-Man Insurance include disability coverage? Usually, when a company buys insurance on a key person, the insurance agent describes the policy as life insurance. But can the company buy coverage which pays off if the key person becomes disabled?
What if you have a buy-sell agreement among partners or shareholders. One partner can buy insurance on the life of another partner, and be the beneficiary of that policy, so that he or she has money to buy the other partner's interest if that other partner dies. Can a partner buy disability insurance on the health of another partner for the same purpose?
Can Key-Man Insurance include disability coverage? Usually, when a company buys insurance on a key person, the insurance agent describes the policy as life insurance. But can the company buy coverage which pays off if the key person becomes disabled?
What if you have a buy-sell agreement among partners or shareholders. One partner can buy insurance on the life of another partner, and be the beneficiary of that policy, so that he or she has money to buy the other partner's interest if that other partner dies. Can a partner buy disability insurance on the health of another partner for the same purpose?
