Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

corporate-owned life insurance

Read a random definition: decoy

A quick definition of corporate-owned life insurance:

Corporate-owned life insurance is a type of life insurance policy that a company buys on an employee's life, with the company as the beneficiary. If the employee dies, the company receives the payout. There are many other types of life insurance, including ones that pay out a fixed amount after a certain period or ones that cover multiple people. Some policies require regular premium payments, while others only require a single payment.

A more thorough explanation:

Corporate-owned life insurance is a type of life insurance policy that a company buys on an employee's life, with the company named as the beneficiary. It is also known as COLI.

For example, if a company buys a COLI policy on one of its executives, the company will receive the death benefit if the executive dies. The company can use the death benefit to cover the costs of finding and training a replacement or to offset the financial impact of losing a key employee.

COLI policies are controversial because some people believe that companies should not profit from the death of their employees. However, others argue that COLI policies are a legitimate way for companies to manage risk and protect their financial interests.

corporate-opportunity doctrine | corporate purpose

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.