Key labor insurance
The key worker insurance (in the insurance industry also keyman Police is called) is a life insurance that a company on the life of a key employee - regularly workers - concludes. The company is the policyholder and entitled to draw. In this respect, there are parallels with so-called shareholder insurance .
The purpose of key worker insurance is to avoid liquidity bottlenecks or even economic hardship for the company in the event of the unexpected death of the key worker. The resources of the key worker (know how, inventiveness) can make up the majority of the value of the company, which is why the need for security may be obvious. For this reason, the insurance characterizes the content of a top-class insurance. The key worker insurance therefore protects the company itself, not the key worker. The funds made available in the event of the death of the key worker are used to find adequate replacement (as far as possible).
Whether the GGF of a corporation can be a key worker in this sense is controversial, but it is assumed if severe financial losses are to be expected because the GGF has extensive, qualified knowledge.
Tax treatment at the company
The contributions to key labor insurance are business expenses if the above conditions are met. Contributions to key worker insurance are not a business expense if they are taken out on a partner or the business owner himself instead of on an employee. In these cases, there is basically no operational reason for the protective purpose. An exception can be made for insurance policies taken out for a shareholder-managing director (GGF) of a corporation (e.g. GmbH), as GGF themselves are employees from a tax perspective, which shows their entitlement to company pension schemes. Here, however, it is mandatory to coordinate with the business premises tax office.
The entitlement to benefits from key worker insurance must be capitalized by accounting companies with the business plan coverage capital or, in certain cases, the current value of the insurance in accordance with Section 176 (3) VVG ( Insurance Contract Act ) (assets / use of funds). For companies that do not have a balance sheet, taxation is based on the point in time at which the service is received (contributions are deducted as operating expenses).
Tax treatment with the key worker
Since the insured key worker does not benefit from the benefits, neither the contributions nor the insurance benefits represent a tax-relevant fact for her or her surviving dependents.
Inheritance tax
Benefits from key employee insurance are not subject to inheritance tax , as the benefits are provided to the policyholder.
Individual evidence
- ^ Ulrich Kramer International Insurance Contract Law
- ↑ The key employee insurance - a measure for internal liquidity provision pdf ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
Web links
Literature and case law
- Kreußler / Nörig: Life Insurance and Tax , VVW Karlsruhe, ISBN 978-3-884873-48-9 .
- BFH judgment of March 14, 1996, IV R 14/95, BStBl. 1997, p. 343
- Judgment of the FG Düsseldorf of 23 August 1994, EFG 1995, p. 176
