What is Key Person Insurance? Also known as “Key Man” Insurance, or Company Owned Life Insurance (COLI), it is a type of life insurance that provides coverage for vital individuals of a business. Who is Considered a Key Employee? The employees designated as “key” are solely determined by the business.
By definition, “insurance” is a contract that provides financial protection against loss. Whether it’s loss of property, a job, health, even a particular skill or unique characteristic (Betty Grable’s legs, Bruce Springsteen’s voice, etc.). One factor that plays a role in the selection of insurance is one you cannot prevent
Life insurance is, usually, purchased to provide financial support for your family upon your death. A pre-arranged sum of money is disbursed to your loved ones to be used in any way they choose—from paying off your mortgage, student and auto loans, and taxes, to replacing your income for the
“If I were to start over from scratch today with what we know, I’d probably blow up the existing structure and start over.” –Ted Benna, Father of the 401(k) Quite a powerful realization, but because so many individuals are pushed into using the qualified plan for retirement, they don’t realize
Doctors, dentists, counselors, and life insurance agents. They all have something in common; there are key factors that need to be present before we officially select one. A recent consumer poll provided that 79% of consumers asked their family and friends for insurance agent referrals. And 69% asked colleagues and
What is the Central Bank? Surprisingly, a lot of people don’t know what the central bank actually is. Currently, the central bank is the Federal Reserve System that provides services for the United States’ banking system, monetary policy, and issuing currency. When and Why did the Central Bank Begin? The Central
If you didn’t already know, You Tube is one of the best places to find lessons on Infinite Banking Concepts. Actually, Paradigm Life has an entire channel on You Tube dedicated to understanding anywhere from the basic concepts of Infinite Banking to the advanced. Any wealth strategist at Paradigm Life