What does Corporate-Owned Life Insurance mean? Read on to discover the definition & meaning of the term Corporate-Owned Life Insurance - to help you better understand the language used in insurance policies.
Corporate-Owned Life Insurance
Corporate-owned life insurance (COLI) is a group life insurance taken out on the lives of employees who are vital to the company's operations. The company pays the insurance premiums and is also the primary beneficiary after the death of the person or their retirement. The organization can either be a partial or a total beneficiary.
We hope the you have a better understanding of the meaning of Corporate-Owned Life Insurance.