DI key person coverage can provide you and your clients a new level of planning when it comes to a DI event within a business. DI key person can cover a business owner or a key person for disability event. The business owns the policy on the insured and receives the benefits from the policy either monthly, as a lump sum, or as a combination of both. Premiums are not deductible to the business and the benefits are received tax free.
The disability benefit can offset a loss of revenue generated by a key person or be used at the company’s discretion however they see fit. Every time we talk to advisors about this product they are surprised that a product with this flexibility exists, and at a very reasonable premium. Let our Ash DI team help you uncover a new way to help protect your business owner clients.