All of the following are true of key person insurance EXCEPT 1. The plan is funded by permanent insurance only. 2. There is no limitation on the number of key employee plans in force at any one time. 3. The employer is the owner, payor and beneficiary of the policy. 4. The key employee is the insured.

All of the following are true of key person insurance EXCEPT
1. The plan is funded by permanent insurance only.
2. There is no limitation on the number of key employee plans in force at any one time.
3. The employer is the owner, payor and beneficiary of the policy.
4. The key employee is the insured.

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