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A Key man of the company
is a person, who has ability to excel companies profitability. Company
may not prosper in his absence. He is leader, major decision maker
of company.
The main purpose of this policy is to safeguard financial losses to
the company in his absence.
Why to Insure Him?
The main purpose of this policy is to safeguard such financial
losses, in absence of the KEY MAN.
The absence can due to unfortunate death or resignation.
Pre-Reqisite
1. Comany with more than 3 Crore Turnover
2. Should not be Trading Company
Income Tax
The premium paid is free for Income tax (Section 37(1) ..being the
expenditure ..).
This means we save tax by paying premium from taxable income of the
company every year.
However the maturity amount is taxable.
Wish to know more about Keyman Insurance?
Contact us at webmaster@insuregain.com |
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