Board Resolution to Take Keyman Insurance Policy
"RESOLVED THAT the Company do take Keyman Insurance Cover in the year __ in respect of Mr/Ms ____________ (Designation)________________of this Company under ______________Plan, for Rs. __________ with all profits, bonuses (wherever applicable) and other benefits on the said policy to accrue to the Company. This Policy shall be taken from _____ Insurance Company Limited for a term of __________________ years, the premiums of which will be paid by the Company to safeguard the Company from probable losses in the event of his/her demise."
"RESOLVED FURTHER THAT Mr/Mrs ___________ (Designation) ____________, of the Company be and is authorised to negotiate the terms and conditions with ______ Insurance Company Limited on behalf of the Company and sign all the papers and documents, including proposal papers, required by ______ Insurance Company Limited on behalf of the Company."
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