S
SIMPLIFIED EMPLOYEE PENSION (SEP)
An individual retirement account or individual retirement annuity which may accept an expanded rate of contributions from one or more employers.
Any investment earnings grow tax-deferred until withdrawn, and it is owned by the employee, who may
also be self-employed.
SOLE PROPRIETORSHIP INSURANCE
Insurance on the life of the sole proprietor of a business. Sole proprietorship
insurance is used either to pay the salary of someone hired to run the business after
the owner's death, or to compensate the owner's family for the loss of potential income
due to the failure of the business after the owner's death or disability.
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