The Death Benefit Only (DBO) Plan for Non-Profits is an arrangement in which the employer, a 501(c) non-profit organization, agrees to pay the actuarially determined cost of the current death benefit on a permanent life insurance policy to be owned by the employee or employer.
The Death Benefit Only Plan for Non-Profits
The Death Benefit Only (DBO) Plan for Non-Profits is an arrangement in which the employer, a 501(c) non-profit organization, agrees to pay the actuarially determined cost of the current death benefit on a permanent life insurance policy to be owned by the employee or employer. The employer and employee enter into a written agreement that ordinarily requires the employer to make premium payments as long as the employee works for the employer.
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Lawrence L. BellThis premium content is locked for Accounting and Financial Planning for Law Firms subscribers only
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