Question

"a key employee policy is taken out by company x on its vice president. ten years later, this employee leaves company x and begins working for company y. if this individual were to die and the policy is still in force and unchanged, where would the death proceeds be directed?"

Answer 1

If this key employee were to die and the policy is still in force and unchanged, the death proceeds will be directed with the Key Person Insurance. The company will purchase, owns, pays the premiums and is the beneficiary of the life insurance on the key person. This is because the key person is still employed in that company.