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Describe a life insurance solution

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Reference no: EM132936372

Mandisi recently joined LMN Life Brokers as the chief executive officer. Within 13 months of joining the firm, he had improved the profits of the broker by 15%. Mandisi is also very visible in representing industry interests as he is chairperson of its association. His product innovation campaign has increased the customer base of the firm significantly. For the first time, the board has unreservedly increased the annual remuneration of the chief executive officer by 15% at a cost to the company of R98 000 a month.

  • However, the board has some concerns about the possibility of losing Mandisi to its competitors. They forecast that if Mandisi left, LMN Life Brokers would lose more than 30% of its revenues, profits and customers.

You are required to advise the board about the following:

Problem 1: Describe a life insurance solution that is appropriate to mitigate the concerns of the board.

Problem 2: Describe how the product is quantified.

Problem 3: Briefly explain the tax implications of the solution in 1.

Reference no: EM132936372

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