Sample business records - Keyperson insurance for revenue purpose

Key business decisions need to be documented

Key person protection and insurance strategies have different tax treatment depending on a number of factors including the intent of the insurance cover

Pro Tip: 

  • If you have Key Person insurance in place but haven't properly documented the reason for the cover, you may not get favourable tax treatment on its premiums or its payout.

If your current risk adviser hasn't carefully explained this, (*gasp*)  maybe you need to be working with an adviser like Sapience who helps you manage these important details better.

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