It seems like my team and I are regularly answering questions regarding policy ownership and beneficiary designations.
Here are a few situations from the past month or so:
Agent: My client wants to buy a $1,000,000 policy in the company on a key man and have the company pay for it and make his family the beneficiary of half of it as a perk.
Bill: Key man isn’t claiming any of the premium as income?
Bill: Who told you that was a good idea?