Keyman Insurance: IRS Safe Harbors for Tax-Free Income. Death benefits are tax-free if 1 of the Safe Harbors are in place. Otherwise taxable in excess of premiums paid.

Keyman Insurance: Annual IRS Reporting Requirements: Form 8925 must be included with the employer’s annual income tax return.

Keyman Insurance: IRS Notice & Consent Requirements must be followed prior to issuance of policy to get tax-free death benefits. More conditions at death.

What’s the impact on the sudden, unexpected loss on the Company’s ability to survive? Sudden drop in profits and revenues The loss of a top salesperson affects revenues and profits.  Will…

Key person life insurance death benefits are tax-free if certain steps are taken prior to issuance of the policy & certain conditions have been met at death. Otherwise, the death benefits in excess…