[IMGCAP(1)][IMGCAP(2)]Companies often own life insurance policies on the lives of key employees and the owners.

A business may transfer ownership of a policy to the insured at some point for various reasons, such as the insured retiring and wanting to use the policy for personal planning purposes, the insured business owner selling his or her business interest and wanting to personally own his or her life insurance policy, or the business paying a bonus to a key employee using the company owned life insurance policy as the bonus instead of using cash.

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