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Keyman Insurance Policy

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(Querist)
05 June 2011 Whether a Keyman Insurance Policy taken out in the names of two directors is allowed?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 June 2011 In my view the word used is "Keyman" and not "Keymen". So a single policy on the life of 2
or more persons can not be taken. However,
Policies can be taken individually.

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Devendra

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Devendra (Querist)
05 June 2011 Whether a Director himself can be considered
as a Keyman in a Pvt. Ltd. Co.?
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
05 June 2011 THERE IS NO BAR IN TAKING A KEYMAN POLICY FROM INCOME TAX POINT OF VIEW
THE CONSEQUENCES ARE GIVEN IN THE ACT

CA MANOJ GUPTA
JODHPUR
09828510543
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