The business purchases a life insurance policy on a key individual, paying the premiums. If the key person dies, the business receives the death benefit, which can be used to mitigate financial losses and stabilize the company during the transition.
The business purchases a life insurance policy on a key individual, paying the premiums. If the key person dies, the business receives the death benefit, which can be used to mitigate financial losses and stabilize the company during the transition.
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