Jayson Lowe says the person who pays the premium should own the policy. Tax treatment and arrangements with business partners can complicate that simple rule, especially with key employees or joint ventures.
Who has the capital to pay the premium? I know that sounds ridiculously simple, so please forgive me, but it's the truth. Who's got the capital to pay the premium? That should be where the ownership resides. And outside of the tax treatment and nuances, when you're dealing with key people in a company, joint venture partners, et cetera. Want to find out more about how you can become your own banker? Click the link below or head over to learnwithjay.com. That's learnwithjay.com.
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