[{"data":1,"prerenderedAt":483},["ShallowReactive",2],{"document-checklist-key-employee-life-insurance-D610":3},{"document":4,"label":21,"preview":11,"thumb":22,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":23,"breadcrumb":27,"related":35,"customDescModule":184,"customdescription":6,"mdFm":185,"mdProseHtml":482},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":20},"Checklist Issues to Review for Key Man Life Insurance This checklist will help you to determine if your company has a good disability insurance in place for all its directors, officers and key employees. Is the amount of the coverage sufficient? Is the insurer financially strong? Are the premium payments competitive? Are the premiums fixed for the life of the policy? 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Prepared By: [YOUR NAME] [YOUR JOB TITLE] Phone 555.555.5555 Email info@yourbusiness.com www.yourbusiness.com Statement of Confidentiality & Non-Disclosure This document contains proprietary and confidential information. All data submitted to [RECEIVING PARTY] is provided in reliance upon its consent not to use or disclose any information contained herein except in the context of its business dealings with [YOUR COMPANY NAME]. The recipient of this document agrees to inform its present and future employees and partners who view or have access to the document's content of its confidential nature. The recipient agrees to instruct each employee that they must not disclose any information concerning this document to others except to the extent that such matters are generally known to, and are available for use by, the public. The recipient also agrees not to duplicate or distribute or permit others to duplicate or distribute any material contained herein without [YOUR COMPANY NAME]'s express written consent. [YOUR COMPANY NAME] retains all title, ownership, and intellectual property rights to the material and trademarks contained herein, including all supporting documentation, files, marketing material, and multimedia. BY ACCEPTANCE OF THIS DOCUMENT, THE RECIPIENT AGREES TO BE BOUND BY THE AFOREMENTIONED STATEMENT. Table of Content Table of Content 3 1. INTRODUCTION 4 1.1 Overview 4 1.2 Purpose 4 1.3 Priorities 4 1.4 Objectives 5 2. Roles and Responsibilities 6 3. Business Continuity Plan 7 3.1 Financial Resources 7 3.2 Data and Document Back Up 7 3.3 Client and Supplier Communication 8 3.4 Internal Communication 9 3.5 Physical Space - Recovery Site 10 4. Action Plan 11 4.1 Key Personnel 11 4.2 Vital Data and Documents 11 4.3 Salvage of Original Office and Infrastructure 11 4.4 Insurance Claims 11 4.5 Communication Strategy 11 4.6 Implement Temporary Transfer 12 4.7 Monitoring the Recovery Process 12 4.8 Recovery Time 12 5. Implementation 13 5.1 Month 1 13 5.2 Subsequent Months 13 INTRODUCTION 1.1 Overview A Business Continuity Plan is the process of creating systems of prevention and recovery should there be a disruption affecting the company. This plan is designed to maintain the continuity and safety of the employees, company data, and any other assets like vehicles, etc. safe in the event of a natural or unnatural disaster. It also enables continuous operations before and during execution of disaster recovery. As this is an evolving document, always ensure that your employees have the most recent version of the Business Continuity Plan in their possession. 1.2 Purpose The purpose of this document is to provide a structured methodical framework for [YOUR COMPANY NAME] business continuity plan. This plan will allow the continuation of the function of the company as well as protect its employees and assets. The plan will outline certain key elements, personnel, and procedures that will maintain the core functions of the company and how to recover in the event of a disruption. This document will also help assess and mitigate the level of risk, assist in the actual development of the plan, its objectives, and execution. This document can also help you with the tracking and reporting of preparations for the various aspects of the plan. 1.3 Priorities In course of completing this document, you will highlight the priorities with your organization and develop a plan to protect these assets and personnel. These priorities will include customer communication, IT infrastructure like websites and CRM systems as well as any other critical business resources that you need to maintain or recover from a disruption. These priorities can include any of the following: Your core employees Infrastructures like office space or storage space Office equipment and physical records of crucial documentation IT infrastructures like computer networks and telephones Production capability Manufacturing equipment or machinery and tools Inventory Outsourced services Key Priority Amount Needed/Stock Levels Priority Level Key Staff member 2 Key People per department + 3 staff members Level 1 (Highest) Secondary Site 50% of main building capacity Level 1 (Highest) Production Inventory 50% of main warehouse + on-time delivery capacity from suppliers Level 2 (Medium) Next priority Next priority Most importantly you must make provision for the budget for these priorities especially items like raw material for manufacturing, as well as the setup costs of all these facilities and backup resources. 1.4 Objectives The primary objective of a Business Continuity Plan is to protect the company and its core resources in the event of a disaster or threat. However, before you can have a clear plan, you must first identify these core resources and the key documentation that you would need after the event to keep your business in full operation. These objectives will also include the minimum operational needs and infrastructure needed for your business. Each of these parameters should then be mapped out according to priority and time needed to activate in the event of a disruption. Roles and Responsibilities Divide your organization into the main sections and departments, then assign each section to key personnel within that department, a primary person, and a secondary person. These people will be your main contacts within these departments of your company in the event of a disruption. Their roles will be to disseminate and train the rest of your employees on the procedures of your Business Continuity Plan. These duties should include aspects ranging from defining what you regard as critical aspects of the business to include in the plan to training the staff on the step-by-step process of the Business Continuity Plan. You can use the below example to assign these key roles to your employees and to define the responsibilities to these roles. Remember the more comprehensive your plan the better your prevention and recovery will be in the event of a disruption. Office/Department/Section Contact Details: Key Person 1 Contact Details: Key Person 2 Responsibilities Warehouse Warehouse Manager Email address Contact number Office number Warehouse Safety Officer Email address Contact number Office number Initiate DRP - Warehouse 1: Manage switch over to secondary space. Secure employees and inventory at the secondary warehouse Sales Office Sales Manager Email address Contact number Office number Sales Coordinator Email address Contact number Office number Initiate DRP - Sales office: Maintain readiness of infrastructure and IT. Manage core teams to transfer to the secondary site Production Facility Manager Email address Contact number Office number Safety Officer Email address Contact number Office number Maintain readiness of secondary production plant and equipment. Manage the transfer of key personnel to secondary plant Next department Next department Business Continuity Plan Once you have appointed the key personnel that will implement your Business Continuity Plan, here are the foundational aspects that you and your team must pay close attention to. 3.1 Financial Resources Start by taking stock of your current operation to understand the bare minimum of financial resources that would be needed to continue your operation after the disruption. Follow the guideline below on each vital section to further elaborate on your role and responsibilities","Business Continuity Plan","13",513,"https://templates.business-in-a-box.com/imgs/1000px/business-continuity-plan-D12788.png","https://templates.business-in-a-box.com/imgs/250px/12788.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12788.xml",{"title":93,"description":6},"business continuity plan",[95,98],{"label":96,"url":97},"Business Plan Kit","business-plan-kit",{"label":99,"url":100},"Management","business-management","/template/business-continuity-plan-D12788",{"description":103,"descriptionCustom":6,"label":104,"pages":105,"size":106,"extension":10,"preview":107,"thumb":108,"svgFrame":109,"seoMetadata":110,"parents":111,"keywords":120,"url":121},"EMPLOYMENT AGREEMENT FOR AN EXECUTIVE This Employment Agreement for an Executive (the \"Agreement\") is made and effective this [Date], BETWEEN: [EXECUTIVE NAME] (the \"Executive\"), an individual with his main address at: AND: [COMPANY NAME] (the \"Company\"), an entity organized and existing under the laws of the [STATE/PROVINCE], with its head office located at: Recitals In consideration of the covenants and agreements herein contained and the moneys to be paid hereunder, the Company hereby employs the Executive and the Executive hereby agrees to perform services as an Executive of the Company, upon the following terms and conditions: TERM The Company hereby employs Executive to serve as [position] and to serve in such additional or different position or positions as the Company may determine in its sole discretion. The term of employment shall be for a period of [NUMBER] years (\"Employment Period\") to commence on [DATE], unless earlier terminated as set forth herein. The effective date of this Agreement shall be the date first set forth above, and it shall continue in effect until the earlier of: The effective date of any subsequent employment agreement between the Company and the Executive; The effective date of any termination of employment as provided elsewhere herein; or [NUMBER] year(s) from the effective date hereof, provided, that this Employment Agreement shall automatically renew for successive periods of [NUMBER] years each unless either party gives written notice to other that it does not wish to automatically renew this Agreement, which written notice must be received by the other party no less than [NUMBER] days and no more than [NUMBER] days prior to the expiration of the applicable term. Duties and Responsibilities Executive will be reporting to [IDENTIFY]. Within the limitations established by the By-laws of the Company, the Executive shall have each and all of the duties and responsibilities of that position and such other or different duties on behalf of the Company, as may be assigned from time to time by [identify what person or body may assign additional responsibilities]. Location The initial principal location at which Executive shall perform services for the Company shall be [location]. Acceptance of Employment Executive accepts employment with the Company upon the terms set forth above and agrees to devote all Executive's time, energy and ability to the interests of the Company, and to perform Executive's duties in an efficient, trustworthy and business-like manner. Devotion of Time to Employment The Executive shall devote the Executive's best efforts and substantially all of the Executive's working time to performing the duties on behalf of the Company. The Executive shall provide services during the normal business hours of the Company as determined by the Company. Reasonable amounts of time may be allotted to personal or outside business, charitable and professional activities and shall not constitute a violation of this Agreement provided such activities do not materially interfere with the services required to be rendered hereunder. QUALIFICATIONS The Executive shall, as a condition of this Agreement, satisfy all of the qualification that are reasonably and in good faith established by the Board of Directors. Compensation Base Salary Executive shall be paid a base salary (\"Base Salary\") at the annual rate of [salary], payable in bi-weekly installments consistent with Company's payroll practices. The annual Base Salary shall be reviewed on or before [DATE] of each year, unless Executive's employment hereunder shall have been terminated earlier pursuant to this Agreement, starting on [agreed upon date] by the Board of Directors of the Company to determine if such Base Salary should be increased for the following year in recognition of services to the Company. In consideration of the services under this Agreement, Executive shall be paid the aggregate of basic compensation, bonus and benefits as hereinafter set forth. Payment Payment of all compensation to Executive hereunder shall be made in accordance with the relevant Company policies in effect from time to time, including normal payroll practices. Bonus From time to time, the Company may pay to Executive a bonus out of net revenues of the Company. Payment of any bonus compensation shall be at the sole discretion of the Board of Directors or the Executive committee of the Board of Directors and the Executive shall have no entitlement to such amount absent a decision by the Company as aforesaid to make such bonus compensation. Executive shall also be entitled to a bonus determined as follows: [DESCRIBE] Benefits The Company shall provide Executive with such benefits as are provided to other senior management Of the Company. Benefits shall include at a minimum (i) paid vacation of [NUMBER] days per year, at such times as approved by the Board of Directors, (ii) health insurance coverage under the same terms as offered to other Executives of the Company, (iii) retirement and profit sharing programs as offered to other Executives of the Company, (iv) paid holidays as per the Company's policies, and (v) such other benefits and perquisites as are approved by the Board of Directors. The Company has the right to modify conditions of participation, terminate any benefit, or change insurance plans and other providers of such benefits in its sole discretion. The Executive shall be reimbursed for out of pocket expenses that are pre-approved by the Company, subject to the Company's policies and procedures therefore, and only for such items that are a necessary and integral part of the Executive's job functions. NonDeductible Compensation In the event a deduction shall be disallowed by the Internal Revenue Service or a court of competent jurisdiction for federal income tax purposes for all or any part of the payment made to Executive by the Company or any other shareholder or Executive of the Company, shall be required by the Internal Revenue Service to pay a deficiency on account of such disallowance, then Executive shall repay to the Company or such other individual required to make such payment, an amount equal to the tax imposed on the disallowed portion of such payment, plus any and all interest and penalties paid with respect thereto. The Company or other party required to make payment shall not be required to defend any proposed disallowance or other action by the Internal Revenue Service or any other state, federal, or local taxing authorities. Withholding All sums payable to Executive under this Agreement will be reduced by all federal, state, local, and other withholdings and similar taxes and payments required by applicable law. Other Employment Benefits Business Expenses Upon submission of itemized expense statements in the manner specified by the Company, Executive shall be entitled to reimbursement for reasonable travel and other reasonable business expenses duly incurred by Executive in the performance of his duties under this Agreement. Benefit Plans Executive shall be entitled to participate in the Company's medical and dental plans, life and disability insurance plans and retirement plans pursuant to their terms and conditions. Executive shall be entitled to participate in any other benefit plan offered by the Company to its Executives during the term of this Agreement (other than stock option or stock incentive plans, which are governed by Section 3(d) below). Nothing in this Agreement shall preclude the Company or any affiliate of the Company from terminating or amending any Executive benefit plan or program from time to time. Vacation Executive shall be entitled to [agreed upon number of time] weeks of vacation each year of full employment, exclusive of legal holidays, as long as the scheduling of Executive's vacation does not interfere with the Company's normal business operations.","Employment Agreement Executive","12",97,"https://templates.business-in-a-box.com/imgs/1000px/employment-agreement_executive-D543.png","https://templates.business-in-a-box.com/imgs/250px/543.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#543.xml",{"title":6,"description":6},[112,114,117],{"label":17,"url":113},"human-resources",{"label":115,"url":116},"Hire an Employee","hire-employee",{"label":118,"url":119},"Legal Agreements","business-legal-agreements","employment agreement executive","/template/employment-agreement-executive-D543",{"description":123,"descriptionCustom":6,"label":124,"pages":125,"size":126,"extension":10,"preview":127,"thumb":128,"svgFrame":129,"seoMetadata":130,"parents":131,"keywords":136,"url":137},"Employee Handbook Understanding employment at [YOUR COMPANY NAME] Revised on [DATE] Prepared By: [YOUR NAME] [YOUR JOB TITLE] Phone 555.555.5555 Email info@yourbusiness.com www.yourbusiness.com Table of Content Table of Content 2 Welcome to [YOUR COMPANY NAME]! 5 1. Organization Description 6 1.1 Introductory Statement 6 1.2 Customer Relations 6 1.3 Products and Services Provided 7 1.4 Facilities and Location(s) 7 1.5 The History of [YOUR COMPANY NAME] 7 1.6 Management Philosophy 7 1.7 Goals 8 2. The Employment 9 2.1 Nature of Employment 9 2.2 Employee Relations 9 2.3 Equal Employment Opportunity 10 2.4 Diversity 10 2.5 Business Ethics and Conduct 12 2.6 Personal Relationships in the Workplace 13 2.7 Conflicts of Interest 13 2.8 Outside Employment 14 2.9 Non-Disclosure 15 2.10 Disability Accommodation 16 2.11 Job Posting and Employee Referrals 17 2.12 Whistleblower Policy 18 2.13 Accident and First Aid 20 3. Employment Status and Records 21 3.1 Employment Categories 21 3.2 Access to Personnel Files 22 3.3 Personnel Data Changes 23 3.4 Probation Period 23 3.5 Employment Applications 24 3.6 Performance Evaluation 24 3.7 Job Descriptions 25 3.8 Salary Administration 25 3.9 Professional Development 26 4. Employee Benefit Programs 27 4.1 Employee Benefits 27 4.2 Vacation Benefits 27 4.3 Military Service Leave 29 4.4 Religious Observance 29 4.5 Holidays 29 4.6 Workers Insurance 30 4.7 Sick Leave Benefits 31 4.8 Bereavement Leave 32 4.9 Relocation Benefits 33 4.10 Educational Assistance 33 4.11 Health Insurance 34 4.12 Life Insurance 35 4.13 Long Term Disability 35 4.14 Marriage, Maternity and Parental Leave 36 5. Timekeeping / Payroll 40 5.1 Timekeeping 40 5.2 Paydays 40 5.3 Employment Termination 41 5.4 Administrative Pay Corrections 42 6. Work Conditions and Hours 43 6.1 Work Schedules 43 6.2 Absences 43 6.3 Jury Duty 45 6.4 Use of Phone and Mail Systems 45 6.5 Smoking 46 6.6 Meal Periods 46 6.7 Overtime 46 6.8 Use of Equipment 47 6.9 Telecommuting 47 6.10 Emergency Closing 48 6.11 Business Travel Expenses 49 6.12 Visitors in the Workplace 51 6.13 Computer and Email Usage 51 6.14 Internet Usage 52 6.15 Workplace Monitoring 54 6.16 Workplace Violence Prevention 55 7. Employee Conduct & Disciplinary Action 57 7.1 Employee Conduct and Work Rules 57 7.2 Sexual and Other Unlawful Harassment 58 7.3 Attendance and Punctuality 60 7.4 Personal Appearance 60 7.5 Return of Property 61 7.6 Resignation and Retirement 61 7.7 Security Inspections 62 7.8 Progressive Discipline 62 7.9 Problem Resolution 64 7.10 Workplace Etiquette 65 7.11 Suggestion Program 67 Acknowledgement of Receipt 68 Welcome to [YOUR COMPANY NAME]! On behalf of your colleagues, we welcome you to [YOUR COMPANY NAME] and wish you every success here. At [YOUR COMPANY NAME], we believe that each employee contributes directly to the growth and success of the company, and we hope you will take pride in being a member of our team. This handbook was developed to describe some of the expectations of our employees and to outline the policies, programs, and benefits available to eligible employees. Employees should become familiar with the contents of the employee handbook as soon as possible, for it will answer many questions about employment with [YOUR COMPANY NAME]. We believe that professional relationships are easier when all employees are aware of the culture and values of the organization. This guide will help you to better understand our vision for the future of our business and the challenges that are ahead. We hope that your experience here will be challenging, enjoyable, and rewarding. Again, welcome! [PRESIDENT NAME] President & CEO 1. Organization Description 1.1 Introductory Statement This handbook is designed to acquaint you with [YOUR COMPANY NAME] and provide you with information about working conditions, employee benefits, and some of the policies affecting your employment. You should read, understand, and comply with all provisions of the handbook. It describes many of your responsibilities as an employee and outlines the programs developed by [YOUR COMPANY NAME] to benefit employees. One of our objectives is to provide a work environment that is conducive to both personal and professional growth. No employee handbook can anticipate every circumstance or question about policy. As [YOUR COMPANY NAME] continues to grow, the need may arise and [YOUR COMPANY NAME] reserves the right to revise, supplement, or rescind any policies or portion of the handbook from time to time as it deems appropriate, in its sole and absolute discretion. Employees will be notified of such changes to the handbook as they occur. 1.2 Customer Relations Customers are among our organization's most valuable assets. Every employee represents [YOUR COMPANY NAME] to our customers and the public. The way we do our jobs presents an image of our entire organization. Customers judge all of us by how they are treated with each employee contact. Therefore, one of our first business priorities is to assist any customer or potential customer. Nothing is more important than being courteous, friendly, helpful, and prompt in the attention you give to customers. [YOUR COMPANY NAME] will provide customer relations and services training to all employees with extensive customer contact. Customers who wish to lodge specific comments or complaints should be directed to the [TITLE AND NAME OF THE PERSON RESPONSIBLE] for appropriate action. Our personal contact with the public, our manners on the telephone, and the communications we send to customers are a reflection not only of ourselves, but also of the professionalism of [YOUR COMPANY NAME]. Positive customer relations not only enhance the public's perception or image of [YOUR COMPANY NAME], but also pay off in greater customer loyalty and increased sales and profit. 1.3 Products and Services Provided You will find more information about our products and services by reading the [YOUR COMPANY NAME] Corporate Brochures. 1.4 Facilities and Location(s) Head Office: [ADDRESS] [CITY], [STATE] [ZIP/POSTAL CODE] [COUNTRY] 1.5 The History of [YOUR COMPANY NAME] [DESCRIBE THE HISTORY OF YOUR COMPANY HERE] 1.6 Management Philosophy [YOUR COMPANY NAME] management philosophy is based on responsibility and mutual respect. Our wishes are to maintain a work environment that fosters on personal and professional growth for all employees. Maintaining such an environment is the responsibility of every staff person. Because of their role, managers and supervisors have the additional responsibility to lead in a manner which fosters an environment of respect for each person. People who come to [YOUR COMPANY NAME] want to work here because we have created an environment that encourages creativity and achievement. [YOUR COMPANY NAME] aims to become a leader in [DESCRIBE YOUR COMPANY'S FIELD OF EXPERTISE]. The mainstay of our strategy will be to offer a level of client focus that is superior to that offered by our competitors. To help achieve this objective, [YOUR COMPANY NAME] seeks to attract highly motivated individuals that want to work as a team and share in the commitment, responsibility, risk taking, and discipline required to achieve our vision. Part of attracting these special individuals will be to build a culture that promotes both uniqueness and a bias for action. While we will be realistic in setting goals and expectations, [YOUR COMPANY NAME] will also be aggressive in reaching its objectives. This success will in turn enable [YOUR COMPANY NAME] to give its employees above average compensation and innovative benefits or rewards, key elements in helping us maintain our leadership position in the worldwide marketplace. 1.7 Goals [DESCRIBE YOUR COMPANY'S GOALS HERE] 2. 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NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","3","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":162,"description":6},"non disclosure agreement nda",[164,165],{"label":118,"url":119},{"label":166,"url":167},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":170,"descriptionCustom":6,"label":171,"pages":172,"size":173,"extension":10,"preview":174,"thumb":175,"svgFrame":176,"seoMetadata":177,"parents":178,"keywords":182,"url":183},"INDEPENDENT CONTRACTOR AGREEMENT This Independent Contractor Agreement (\"Agreement\") is made and effective [Date], BETWEEN: [INDEPENDENT CONTRACTOR NAME] (the \"Independent Contractor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Company\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] RECITALS Independent Contractor is engaged in providing [Describe] business services, its Employer Tax I.D. Number is [Insert], and its Business License Number is [insert]. Independent Contractor has complied with all Federal, State, and local laws regarding business permits, sales permits, licenses, reporting requirements, tax withholding requirements, and other legal requirements of any kind that may be required to carry out said business and the Scope of Work which is to be performed as an Independent Contractor pursuant to this Agreement. Independent Contractor is or remains open to conducting similar tasks or activities for clients other than the Company and holds themselves out to the public to be a separate business entity. Company desires to engage and contract for the services of the Independent Contractor to perform certain tasks as set forth below. Independent Contractor desires to enter into this Agreement and perform as an independent contractor for the company and is willing to do so on the terms and conditions set forth below. NOW, THEREFORE, in consideration of the above recitals and the mutual promises and conditions contained in this Agreement, the Parties agree as follows: TERMS This Agreement shall be effective commencing [Date], and shall continue until terminated at the completion of the Scope of Work which shall occur no later than [Date] or by either party as otherwise provided herein. STATUS OF INDEPENDENT CONTRACTOR This Agreement does not constitute a hiring by either party. It is the parties intentions that Independent Contractor shall have an independent contractor status and not be an employee for any purposes, including, but not limited to, [laws]. Independent Contractor shall retain sole and absolute discretion in the manner and means of carrying out their activities and responsibilities under this Agreement. This Agreement shall not be considered or construed to be a partnership or joint venture, and the Company shall not be liable for any obligations incurred by Independent Contractor unless specifically authorized in writing. Independent Contractor shall not act as an agent of the Company, ostensibly or otherwise, nor bind the Company in any manner, unless specifically authorized to do so in writing. TASKS, DUTIES, AND SCOPE OF WORK Independent Contractor agrees to devote as much time, attention, and energy as necessary to complete or achieve the following: [Describe]. The above to be referred to in this Agreement as the \"Scope of Work\". It is expected that the Scope of Work will completed by [Date]. Independent Contractor shall additionally perform any and all tasks and duties associated with the Scope of Work set forth above, including but not limited to, work being performed already or related change orders. Independent Contractor shall not be entitled to engage in any activities which are not expressly set forth by this Agreement. The books and records related to the Scope of Work set forth in this Agreement shall be maintained by the Independent Contractor at the Independent Contractor's principal place of business and open to inspection by Company during regular working hours. Documents to which Company will be entitled to inspect include, but are not limited to, any and all contract documents, change orders/purchase orders and work authorized by Independent Contractor or Company on existing or potential projects related to this Agreement. Independent Contractor shall be responsible to the management and directors of Company, but Independent Contractor will not be required to follow or establish a regular or daily work schedule. Supply all necessary equipment, materials and supplies. Independent Contractor will not rely on the equipment or offices of Company for completion of tasks and duties set forth pursuant to this Agreement. Any advice given Independent Contractors regarding the scope of work shall be considered a suggestion only, not an instruction. Company retains the right to inspect, stop, or alter the work of Independent Contractor to assure its conformity with this Agreement. ASSURANCE OF SERVICES Independent Contractor will assure that the following individuals (the \"Key Employees\") will be available to perform, and will perform, the Services hereunder until they are completed (identify by title and name as applicable): [Name of Key Employee, Title] [Name of Key Employee, Title] The Key Employees may be changed only with the prior written approval of the Company, which approval shall not be unreasonably withheld. COMPENSATION Independent Contractor shall be entitled to compensation for performing those tasks and duties related to the Scope of Work as follows: [Describe] Such compensation shall become due and payable to Independent Contractor in the following time, place, and manner: [Describe] NOTICE CONCERNING WITHHOLDING OF TAXES Independent Contractor recognizes and understands that it will receive a [specify tax] statement and related tax statements, and will be required to file corporate and/or individual tax returns and to pay taxes in accordance with all provisions of applicable Federal and State law. Independent Contractor hereby promises and agrees to indemnify the Company for any damages or expenses, including attorney's fees, and legal expenses, incurred by the Company as a result of independent contractor's failure to make such required payments. AGREEMENT TO WAIVE RIGHTS TO BENEFITS Independent Contractor hereby waives and foregoes the right to receive any benefits given by Company to its regular employees, including, but not limited to, health benefits, vacation and sick leave benefits, profit sharing plans, etc. This waiver is applicable to all non-salary benefits which might otherwise be found to accrue to the Independent Contractor by virtue of their services to Company, and is effective for the entire duration of Independent Contractor's agreement with Company. This waiver is effective independently of Independent Contractor's employment status as adjudged for taxation purposes or for any other purpose. Neither this Agreement, nor any duties or obligations under this Agreement may be assigned by either party without the consent of the other. TERMINATION This Agreement may be terminated prior to the completion or achievement of the Scope of Work by either party giving [number] days written notice. Such termination shall not prejudice any other remedy to which the terminating party may be entitled, either by law, in equity, or under this Agreement. NON-DISCLOSURE OF TRADE SECRETS, CUSTOMER LISTS AND OTHER PROPRIETARY INFORMATION Independent Contractor agrees not to disclose or communicate, in any manner, either during or after Independent Contractor's agreement with Company, information about Company, its operations, clientele, or any other information, that relate to the business of Company including, but not limited to, the names of its customers, its marketing strategies, operations, or any other information of any kind which would be deemed confidential, a trade secret, a customer list, or other form of proprietary information of Company. Independent Contractor acknowledges that the above information is material and confidential and that it affects the profitability of Company. ","Independent Contractor Agreement","6",62,"https://templates.business-in-a-box.com/imgs/1000px/independent-contractor-agreement-D160.png","https://templates.business-in-a-box.com/imgs/250px/160.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#160.xml",{"title":6,"description":6},[179],{"label":180,"url":181},"Consultant & Contractors","consulting-contractor-business","independent contractor agreement","/template/independent-contractor-agreement-D160",false,{"seo":186,"reviewer":198,"legal_disclaimer":184,"quick_facts":202,"at_a_glance":204,"personas":208,"variants":233,"glossary":261,"fields":291,"how_to_fill":337,"common_mistakes":373,"faqs":390,"industries":415,"comparisons":432,"diy_vs_pro":445,"related_template_ids_curated":458,"schema":469,"classification":471},{"meta_title":187,"meta_description":188,"primary_keyword":189,"secondary_keywords":190},"Key Employee Life Insurance Checklist Template | BIB","Free key employee life insurance checklist template to evaluate, track, and manage life insurance policies on critical business personnel.","key employee life insurance checklist",[191,192,193,194,195,196,197],"key man life insurance checklist","key employee insurance template","business life insurance checklist","key person insurance checklist","key man insurance form","key employee life insurance template word","key person life insurance worksheet",{"name":199,"credential":200,"reviewed_date":201},"Bruno Goulet","CEO, Business in a Box","2026-05-02",{"difficulty":203,"legal_review_recommended":184,"signature_required":184},"easy",{"what_it_is":205,"when_you_need_it":206,"whats_inside":207},"A Key Employee Life Insurance Checklist is a structured form businesses use to evaluate, document, and track life insurance coverage on personnel whose loss would materially disrupt operations or threaten financial stability. This free Word download walks you through every consideration — from identifying covered employees to verifying policy details — so nothing falls through the cracks.\n","Use it when initiating a new key person policy, conducting an annual insurance review, onboarding a new executive or partner, or auditing existing coverage as part of a business continuity plan.\n","Employee identification fields, role and revenue-impact assessment, policy type and coverage amount criteria, insurer and beneficiary details, premium tracking, and a review sign-off section to confirm all items have been verified and filed.\n",[209,213,217,221,225,229],{"title":210,"use_case":211,"icon_asset_id":212},"Small business owners","Protecting the company against the sudden loss of a revenue-generating partner","persona-small-business-owner",{"title":214,"use_case":215,"icon_asset_id":216},"CFOs and financial controllers","Auditing key person coverage amounts against current business valuations","persona-cfo",{"title":218,"use_case":219,"icon_asset_id":220},"HR managers","Tracking active policies and renewal dates for covered executives","persona-hr-manager",{"title":222,"use_case":223,"icon_asset_id":224},"Business attorneys","Verifying insurance coverage as part of a buy-sell agreement review","persona-business-attorney",{"title":226,"use_case":227,"icon_asset_id":228},"Insurance brokers","Walking clients through a structured needs assessment before policy placement","persona-insurance-broker",{"title":230,"use_case":231,"icon_asset_id":232},"Startup founders","Satisfying lender or investor requirements for key person coverage at funding close","persona-startup-founder",[234,238,242,246,249,253,257],{"situation":235,"recommended_template":236,"slug":237},"Evaluating coverage needs before applying for a new policy","Key Employee Life Insurance Checklist","checklist-key-employee-life-insurance-D610",{"situation":239,"recommended_template":240,"slug":241},"Documenting a buy-sell agreement funded by life insurance","Buy-Sell Agreement","buy-sell-agreement-D12611",{"situation":243,"recommended_template":244,"slug":245},"Tracking all company insurance policies in one place","Business Insurance Checklist","checklist-business-insurance-D12993",{"situation":247,"recommended_template":86,"slug":248},"Reviewing business continuity risks beyond key person loss","business-continuity-plan-D12788",{"situation":250,"recommended_template":251,"slug":252},"Onboarding a new executive whose departure would impact revenue","Executive Employment Agreement","employment-agreement-executive-D543",{"situation":254,"recommended_template":255,"slug":256},"Assessing all financial risks during an annual business review","Annual Business Review Template","quarterly-business-review-D13525",{"situation":258,"recommended_template":259,"slug":260},"Satisfying an SBA lender's key man insurance requirement at loan closing","SBA Loan Checklist","bank-loan-application-form-and-checklist-D461",[262,265,268,271,274,277,280,283,286,289],{"term":263,"definition":264},"Key Employee","An individual whose skills, relationships, or knowledge are so critical to the business that their sudden absence would cause significant financial harm.",{"term":266,"definition":267},"Key Person Insurance","A life insurance policy owned and paid for by the business, naming the business as beneficiary, on a critical employee or owner.",{"term":269,"definition":270},"Death Benefit","The lump-sum amount paid to the policy beneficiary — in this case, the business — upon the insured employee's death.",{"term":272,"definition":273},"Cash Value","The savings component of a permanent life insurance policy that accumulates over time and can be borrowed against or surrendered.",{"term":275,"definition":276},"Term Life Policy","A life insurance policy that provides coverage for a fixed period (e.g., 10 or 20 years) with no cash value accumulation.",{"term":278,"definition":279},"Permanent Life Policy","A life insurance policy (whole or universal life) that provides lifelong coverage and builds cash value over time.",{"term":281,"definition":282},"Policy Owner","The entity that holds the policy contract, pays the premiums, and has the right to change beneficiaries or surrender the policy — typically the business itself.",{"term":284,"definition":285},"Insurable Interest","A legal requirement that the policy owner would suffer a financial loss upon the insured's death — businesses have insurable interest in key employees.",{"term":287,"definition":288},"Premium","The periodic payment (monthly or annual) made by the policy owner to keep the insurance policy in force.",{"term":240,"definition":290},"A binding contract among business owners that dictates how a departing or deceased owner's share is transferred, often funded by key person life insurance.",[292,297,302,307,312,317,322,327,332],{"name":293,"plain_english":294,"sample_language":295,"common_mistake":296},"Employee identification","Full legal name, job title, department, and date of hire for the employee being insured.","Employee Name: [FULL LEGAL NAME] | Title: [JOB TITLE] | Department: [DEPARTMENT] | Hire Date: [DATE]","Using a nickname or informal title instead of the employee's legal name and exact job title — this can cause delays or mismatches during the policy application process.",{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Role criticality assessment","A brief description of why this employee qualifies as a key person — specific revenue responsibility, client relationships, or proprietary knowledge.","Reason for coverage: [EMPLOYEE NAME] is responsible for [REVENUE AMOUNT / CLIENT RELATIONSHIPS / SPECIALIZED FUNCTION] that would be difficult to replace within [TIMEFRAME].","Leaving this field blank or writing a generic reason like 'important to the business' — insurers and auditors expect a specific financial or operational justification.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Coverage amount determination","The target death benefit, calculated using one of three common methods: a multiple of salary (typically 5–10×), contribution to revenue, or cost-to-replace estimate.","Coverage method: [SALARY MULTIPLE / REVENUE CONTRIBUTION / REPLACEMENT COST] | Calculated coverage: $[AMOUNT] | Basis: [DESCRIPTION OF CALCULATION]","Selecting a coverage amount without documenting the calculation method, making it impossible to justify the figure during a policy review or audit.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Policy type selection","Indicates whether the policy will be term or permanent (whole or universal life) and the rationale for the choice.","Policy type: [TERM / WHOLE LIFE / UNIVERSAL LIFE] | Term length (if applicable): [X YEARS] | Rationale: [e.g., COVERS PERIOD OF OUTSTANDING LOAN / LONG-TERM RETENTION TOOL]","Defaulting to term without evaluating whether a permanent policy's cash value component could serve as a supplemental business reserve or executive benefit.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Insurer and policy details","Name of the insurance carrier, policy number, issue date, and premium schedule once the policy is placed.","Carrier: [INSURER NAME] | Policy #: [POLICY NUMBER] | Issue Date: [DATE] | Premium: $[AMOUNT] [MONTHLY / ANNUALLY]","Storing policy details only in an email inbox — without a centralized record like this checklist, policies go unrenewed or are forgotten after personnel changes.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Policy owner and beneficiary","Confirms that the business entity is listed as both policy owner and primary beneficiary, and documents the authorized signatory.","Policy Owner: [COMPANY LEGAL NAME] | Beneficiary: [COMPANY LEGAL NAME] | Authorized Signatory: [NAME, TITLE]","Inadvertently naming an individual (e.g., a co-owner) as beneficiary instead of the business entity — this redirects the death benefit outside the company and defeats the purpose of key person coverage.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Premium payment tracking","Records the premium amount, payment frequency, payment method, and next renewal or review date.","Annual premium: $[AMOUNT] | Payment method: [ACH / CHECK / CREDIT CARD] | Next payment due: [DATE] | Next review date: [DATE]","Setting up auto-pay but failing to track the renewal date, so changes in coverage needs or better carrier rates are missed at the annual window.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Consent and disclosure","Confirms that the employee has been notified of and consented to the policy, as required in most US states for employer-owned life insurance (EOLI).","Employee notified: [YES / NO] | Date of notice: [DATE] | Written consent obtained: [YES / NO] | Consent form filed: [YES / NO]","Skipping the consent step entirely — employer-owned life insurance on non-owner employees generally requires written consent under IRC Section 101(j), and non-compliance can make the death benefit taxable.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Review and sign-off","A final confirmation that all checklist items have been completed and verified by the responsible party, with date.","Checklist completed by: [NAME, TITLE] | Date: [DATE] | Next scheduled review: [DATE] | Notes: [ANY OPEN ITEMS OR FOLLOW-UP ACTIONS]","Completing the checklist but not scheduling the next review date, causing coverage to become stale as the business grows and key employees' roles evolve.",[338,343,348,353,358,363,368],{"step":339,"title":340,"description":341,"tip":342},1,"Identify which employees qualify as key persons","List every employee or owner whose sudden loss would cause measurable financial harm — lost revenue, client attrition, or an inability to deliver core services. Typical candidates include founders, top salespeople, lead engineers, and employees with unique client relationships.","A practical threshold: if replacing this person would take more than 3 months and cost more than 1× their annual salary, they likely qualify.",{"step":344,"title":345,"description":346,"tip":347},2,"Complete the role criticality assessment for each person","Document the specific dollar impact — annual revenue they generate or influence, cost to recruit and train a replacement, or outstanding loan or contract obligations tied to their performance.","Pull numbers from your CRM or financial reports to make the assessment concrete and defensible for insurers or investors.",{"step":349,"title":350,"description":351,"tip":352},3,"Calculate the appropriate coverage amount","Choose a calculation method — salary multiple (5–10×), revenue contribution (1–2 years' worth), or replacement cost — and record both the method and the resulting figure in the coverage field.","If the business has an SBA loan, confirm the required coverage amount directly with the lender; SBA guidelines often specify a minimum death benefit equal to the outstanding loan balance.",{"step":354,"title":355,"description":356,"tip":357},4,"Select the policy type and obtain quotes","Decide between term (lower cost, finite period) and permanent (builds cash value, lifelong coverage) based on the business objective. Get at least two carrier quotes before completing the policy details field.","Term policies work well when coverage is tied to a specific loan or time-limited risk; permanent policies double as a tax-advantaged executive retention tool.",{"step":359,"title":360,"description":361,"tip":362},5,"Fill in insurer and policy details after placement","Once the policy is issued, record the carrier name, policy number, issue date, and premium schedule in the checklist. File a copy of the policy alongside the completed checklist.","Store the checklist and policy documents in a shared secure folder accessible to at least two people — sole custody creates its own key-person risk.",{"step":364,"title":365,"description":366,"tip":367},6,"Confirm consent and disclosure compliance","Obtain and file the employee's written consent to the policy before the policy is issued. Record the date consent was given and confirm it matches the insurer's records.","Use a separate consent form with the employee's signature; a checkbox on the checklist alone is not a substitute for a standalone signed document.",{"step":369,"title":370,"description":371,"tip":372},7,"Schedule the next review date","Set a calendar reminder for the annual review — at minimum, verify that coverage amounts still reflect the employee's current role, salary, and business contribution.","Tie reviews to your fiscal year-end so coverage assessment happens alongside your financial planning cycle.",[374,378,382,386],{"mistake":375,"why_it_matters":376,"fix":377},"Skipping employee consent under IRC Section 101(j)","Without proper written notice and consent for employer-owned life insurance, the death benefit may be fully taxable as ordinary income to the business — eliminating most of the financial protection.","Obtain signed consent from the covered employee before the policy is issued and retain the documentation in a permanent file alongside the checklist.",{"mistake":379,"why_it_matters":380,"fix":381},"Naming an individual as beneficiary instead of the business","If a co-owner or family member is accidentally listed as beneficiary, the death benefit bypasses the business entirely, leaving the company without the funds needed to cover losses or execute a buy-sell agreement.","Always list the legal business entity as both owner and primary beneficiary; review the policy declarations page immediately after issuance to confirm.",{"mistake":383,"why_it_matters":384,"fix":385},"Never updating coverage after salary increases or role changes","A policy set at 5× salary from three years ago may now represent only 2× salary — leaving a significant gap between the death benefit and the actual financial loss the business would face.","Tie annual coverage reviews to compensation reviews or fiscal year-end planning so the coverage amount stays aligned with the employee's current value to the business.",{"mistake":387,"why_it_matters":388,"fix":389},"Storing policy details only in one person's email","If the person who manages the policy leaves or becomes incapacitated, the company may be unable to locate the policy, miss a premium payment, or fail to file a timely claim.","Use a centralized checklist like this template, stored in a shared drive with access granted to at least two authorized personnel, to ensure continuity regardless of staff changes.",[391,394,397,400,403,406,409,412],{"question":392,"answer":393},"What is key employee life insurance?","Key employee life insurance — also called key man or key person insurance — is a life insurance policy owned by a business on an employee whose death would cause significant financial harm to the company. The business pays the premiums and receives the death benefit, which is used to cover lost revenue, recruit a replacement, repay loans, or fund a buy-sell agreement. It is one of the most common risk management tools for small and mid-size businesses.\n",{"question":395,"answer":396},"Who should be covered by a key employee life insurance policy?","Any employee whose sudden absence would cause measurable financial damage qualifies — founders, top revenue producers, lead technical personnel, or anyone with exclusive client relationships. A practical test: if replacing this person would take more than three months and cost more than one year's salary in lost revenue or recruitment costs, they are likely a key person. Most businesses cover two to five employees at any given time.\n",{"question":398,"answer":399},"How much coverage should a key employee life insurance policy provide?","Common methods include a salary multiple of 5–10×, one to two years of the revenue the employee directly generates, or an estimate of the total replacement cost including recruitment, training, and lost client revenue. SBA lenders typically require coverage equal to the outstanding loan balance. There is no universal formula — the right amount depends on the specific financial exposure the business faces.\n",{"question":401,"answer":402},"Is the death benefit from key employee life insurance taxable?","Generally, death benefits received by a business are income tax-free under IRC Section 101(a). However, if the employer-owned life insurance (EOLI) requirements of IRC Section 101(j) are not met — specifically written notice to and consent from the covered employee — the benefit above the employer's premium investment can become taxable. Consult a tax advisor to confirm compliance before the policy is issued.\n",{"question":404,"answer":405},"What is the difference between a term and permanent key person policy?","A term policy provides coverage for a defined period (typically 10–20 years) at a lower premium with no cash value. It suits time-limited risks like an outstanding business loan or a growth phase where a specific person is critical. A permanent policy (whole or universal life) provides lifelong coverage and builds cash value the business can borrow against — useful as both insurance and a long-term executive benefit or business reserve.\n",{"question":407,"answer":408},"Does the covered employee need to know about the policy?","Yes. For employer-owned life insurance on non-owner employees, IRC Section 101(j) requires that the employee receive written notice before the policy is issued and provide written consent. The notice must disclose the maximum face amount and that the employer will be the beneficiary. Failing to obtain consent does not void the policy but can make the death benefit taxable to the business.\n",{"question":410,"answer":411},"Can a key person insurance policy fund a buy-sell agreement?","Yes — this is one of the most common uses. When a co-owner is the key person, the business or surviving owners can use the death benefit to purchase the deceased owner's share from their estate, preventing unwanted ownership transfers and ensuring business continuity. The buy-sell agreement specifies the terms; the life insurance policy provides the liquidity to execute them.\n",{"question":413,"answer":414},"How often should key employee life insurance coverage be reviewed?","At minimum annually, aligned with your fiscal year-end or compensation review cycle. Coverage should also be reassessed after a significant salary increase, a new business loan, a material change in the key employee's role, or a major shift in business revenue. This checklist includes a review sign-off field specifically to ensure that assessment happens on a defined schedule rather than reactively.\n",[416,420,424,428],{"industry":417,"icon_asset_id":418,"specifics":419},"Professional Services","industry-professional-services","Law firms, accounting practices, and consulting firms routinely insure founding partners whose client relationships constitute the majority of firm revenue.",{"industry":421,"icon_asset_id":422,"specifics":423},"Technology / SaaS","industry-saas","Early-stage tech companies often insure a lead engineer or CTO whose proprietary knowledge underpins the core product, particularly when the business has raised venture capital or carried SBA debt.",{"industry":425,"icon_asset_id":426,"specifics":427},"Construction and Trades","industry-construction","General contractors insure project managers or estimators who hold key subcontractor relationships and whose absence mid-project could trigger performance bond claims or client penalties.",{"industry":429,"icon_asset_id":430,"specifics":431},"Manufacturing","industry-manufacturing","Manufacturers cover plant managers or lead engineers whose operational knowledge is embedded in production processes that would be difficult to document or transfer quickly.",[433,436,440,442],{"vs":86,"vs_template_id":434,"summary":435},"business-continuity-plan-D12726","A business continuity plan addresses the full range of operational disruptions — natural disasters, cyberattacks, supply chain failures — and documents recovery procedures for each. A key employee life insurance checklist focuses narrowly on the financial risk of losing a specific person and ensures the right insurance coverage is in place before that event occurs. The two documents complement each other: the continuity plan explains what to do; the checklist ensures the funding to do it is available.",{"vs":437,"vs_template_id":438,"summary":439},"Employee Benefits Checklist","D{EMPLOYEE_BENEFITS_CHECKLIST_ID}","An employee benefits checklist documents the benefits offered to all employees — health, dental, retirement, PTO. Key employee life insurance is a company-owned policy that protects the business, not the employee. The two documents serve different owners: one is an HR record, the other is a risk management and financial planning tool for the business itself.",{"vs":251,"vs_template_id":252,"summary":441},"An executive employment agreement defines the terms of employment — compensation, duties, non-compete, severance. It does not address what happens to the business financially if the executive dies. The key employee insurance checklist fills that gap by ensuring a death benefit is in place before the executive starts. Both documents should exist for any high-value hire.",{"vs":240,"vs_template_id":443,"summary":444},"D{BUY_SELL_AGREEMENT_ID}","A buy-sell agreement is a legally binding contract that governs the transfer of a deceased or departing owner's equity. Key employee life insurance is the funding mechanism that makes the buy-sell executable — the insurance proceeds provide the liquidity to purchase the deceased owner's share. The checklist ensures the policy is properly structured and documented before it is needed.",{"use_template":446,"template_plus_review":450,"custom_drafted":454},{"best_for":447,"cost":448,"time":449},"Small businesses and founders conducting an initial key person coverage assessment or annual policy review","Free","30–60 minutes per covered employee",{"best_for":451,"cost":452,"time":453},"Businesses with SBA loan requirements, multiple covered employees, or policies tied to a buy-sell agreement","$200–$500 (insurance broker or financial advisor review)","1–3 days",{"best_for":455,"cost":456,"time":457},"Enterprises with complex ownership structures, multi-jurisdiction coverage, or executive benefit plans requiring legal and tax review","$1,000–$3,000+ (attorney and tax advisor involvement)","1–2 weeks",[248,252,459,460,461,462,463,464,465,466,467,468],"employee-handbook-D712","financial-projections_12-months-D360","non-disclosure-agreement-nda-D12692","independent-contractor-agreement-D160","job-offer-letter-long-D12769","strategic-planning-template-D13857","swot-analysis-D12676","small-business-expense-report-D13396","purchase-order-D1411","marketing-plan-D1366",{"emit_how_to":470,"emit_defined_term":470},true,{"primary_folder":149,"secondary_folder":472,"document_type":473,"industry":474,"business_stage":475,"tags":476,"confidence":481},"business-insurance","checklist","general","all-stages",[477,473,478,479,480],"risk-management","key-employee-life-insurance","insurance","business-continuity",0.92,"\u003Ch2>What is a Key Employee Life Insurance Checklist?\u003C/h2>\n\u003Cp>A \u003Cstrong>Key Employee Life Insurance Checklist\u003C/strong> is a structured form that guides a business through the process of identifying critical personnel, determining appropriate coverage amounts, selecting policy types, and verifying that all compliance and documentation requirements are met before and after a key person life insurance policy is placed. It ensures that every material consideration — from employee consent under IRS rules to beneficiary designation and premium tracking — is addressed in a single, auditable record rather than scattered across emails and filing cabinets.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a systematic checklist, key person insurance decisions are made inconsistently — one founder is covered at a policy amount set years ago, another critical hire was never evaluated, and the consent documentation required under IRC Section 101(j) was never collected. The consequence of that gap is not theoretical: a death benefit that should have been tax-free becomes taxable income, a buy-sell agreement cannot be funded because the policy lapsed after an untracked premium due date, or a lender discovers missing coverage during a loan renewal. This checklist closes those gaps by providing a repeatable process for every key person evaluation — ensuring the right coverage is in place, properly documented, and reviewed on a schedule before the business needs it.\u003C/p>\n",1778773581943]