Taxability regarding keyman insurance policy.

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PostPosted: Sat Mar 14, 2009 6:02 am   Post subject: Taxability regarding keyman insurance policy.  

when can we transfer the policy on the name of the employee so that the company can have maximum benifit? can we transfer at few months before maturity time so as to avoid the taxability on maturity value and to have premium deductible expenditure?

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Joined: 14 Mar 2009
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PostPosted: Sat Mar 14, 2009 11:33 am   Post subject:   

I'd suggest you to discuss the matter with your agent. He is the best person to guide you in this regard.

However, I think it would be better to transfer the policy before the maturity 'cause the maturity value would become taxable for the company.


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Jeremy Holter

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