Get Board Resolution For Keyman Insurance Policy

Filling out the Board Resolution For Keyman Insurance Policy is a crucial step for organizations looking to secure key person insurance. This guide will provide clear and concise instructions on how to complete the form effectively online.

Follow the steps to successfully complete the Board Resolution.

1. Click ‘Get Form’ to obtain the document and open it in your preferred online editor.
2. Begin by filling in the name of the company in the designated space at the top of the form. This is typically the legal name of the organization involved.
3. Next, indicate the date of the board meeting when the resolution is being discussed. This date should reflect the actual date of the meeting.
4. In the section where it states 'Resolved that the Company do take Key Man Insurance cover', specify the name of the individual for whom the key man insurance is being taken. Include their designation within the company.
5. Fill in the amount of insurance coverage in the space provided. Ensure that you enter the amount in lakhs (for example, 5 lakhs, etc.).
6. Mention the name of the insurance company through which the policy will be obtained. It is essential to select a reliable insurance provider.
7. Specify the term of the insurance policy in years. This indicates how long the coverage will be in effect.
8. Indicate who will be responsible for paying the premiums associated with the policy, ensuring that it is clearly stated that the company will manage these payments.
9. In the section addressing further resolutions, enter the name and designation of the person authorized to negotiate and sign documents with the insurance company.
10. Lastly, include the signature, designation, date, and place at the end of the document. Ensure that the form is printed with the company seal to authenticate it.

Complete your Board Resolution For Keyman Insurance Policy online today and secure your organization’s future.