Fund key employee retirement 'perk' with life insurance in small businesses

A recent study points to small business opportunities in the areas of individual business life and business continuation plans. The survey estimates the number of small businesses has grown to between 5.4 million and 6.4 million, 2/3 of which have fewer than 5 employees. It estimates 37% of small bu...

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Veröffentlicht in:	National Underwriter 2001-10, Vol.105 (42), p.22
1. Verfasser:	Callahan, D James
Format:	Artikel
Sprache:	eng
Schlagworte:	Alternative minimum tax Beneficiaries Cash flow Compensation plans Deferred compensation Defined benefit plans Employees Executive compensation Fines & penalties Funding Income taxes Insurance agents & brokers Key man insurance Life insurance Limited liability companies Market potential Retirement benefits Retirement income Retirement plans S corporations Small business Wages & salaries
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Beschreibung
Zusammenfassung:	A recent study points to small business opportunities in the areas of individual business life and business continuation plans. The survey estimates the number of small businesses has grown to between 5.4 million and 6.4 million, 2/3 of which have fewer than 5 employees. It estimates 37% of small business carry individual business life insurance, up from 25% in 1994. The survey says companies carry individual business life for several reasons: to provide funds for the business in case of death of an owner, partner or key employee; to fund business continuation arrangements and to provide additional life insurance benefits for key employees.
ISSN:	1940-1345