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Question 3 of 13 in Group Or Employer Policies? |
I am the owner of a small c corporation. Should the corporation pay the premiums? |
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A closely held corporation, also called a C corporation, is one where a small number of people (often from the same family) run the company and own the stock. Often, these kinds of companies buy insurance (life and disability) for key people in the organization to provide cash in the event of the death or disability of one or more of the principles. Such policies would normally be paid for by the corporation and the proceeds of any claims would be disposed of in accordance with buy and sell agreements and other legal documents drawn up by the corporation’s attorneys. |
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