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CHECKLIST
©
ISSUES TO REVIEW FOR KEY MAN LIFE INSURANCE
C
o
p
y
r
i This checklist will help you to determine if your company has a good disability insurance in place for all its
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directors, officers and key employees.
h
t

E  Is the amount of the coverage sufficient?

n
v  Is the insurer financially strong?
i
s  Are the premium payments competitive?
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 Are the premiums fixed for the life of the policy?
o
n  Is there a cash build up feature?

C  If there is a cash build up feature, how does it work?

o
r  Can you borrow against the policy? At what terms?
p
o  Are the proceeds payables to the company or to a surviving spouse?
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 What are the circumstances under which the insurer can refuse to pay?
a
t  Under what circumstances can the policy be cancelled?
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o  What physical exams have to be taken?
n
.  Does the insurer have a good history of timely paying claims?

2  What information of the applicant is necessary?

0  Smoker / non-smoker
0
 Age
2
.
 Name
A  Health history
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l

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