Key person insurance

Subject

Key person cover is a life insurance policy taken out by the company for its benefit for one or more key people to provide financial protection in the event of death, invalidity or incapacity of the key person.

How it works

The company is considered as a subscriber / payer / beneficiary accepting or substituted by the banking organization. The insured person(s) bear the risk.

Fiscal implications

The premiums are considered an operating expense and therefore deductible. In the event of death, the paid-in capital is taxable as an exceptional profit.

Choice of capital amount

After an audit with the stakeholders, colautti insurance will assist you in determining the amounts to be insured.

Choice of cover

The guarantees are adaptable according to the expectations of the stakeholders. To allow the business to run smoothly, the basic guarantees are based on death, invalidity and complete loss of autonomy.

In addition, it is advisable to add the cover for permanent partial invalidity,  temporary professional incapacity, and permanent general costs.

Beneficiary

The beneficiary accepting the contract is to be defined at the time of subscription:

• the company,
• the lending agency
• the heirs, in the context of the musel judgment accompanied by a sequestration clause.

Colautti insurance is your insurance partner, from the subscription of the guarantee until the settlement of the capital in the event of invalidity or death.

We make the link with the company to allow the payment of benefits as quickly as possible for the beneficiaries.