Successful businesses and key employees go hand in hand. Often, a successful business has at least one key employee who is responsible for the success or failure of the business. If a business loses one of these key employees, a business can experience several problems. Reduction in Earnings – If a few key employees are … Continue reading What is a Selective Executive Retirement Plan?
Certain employees are extremely valuable to a business due to their knowledge, skill set, or investment in the company. Therefore, arming these employees with life insurance can protect a business that may suffer financial loss if the employee becomes unable to work due to disability or death. The Mechanics of a Business Split-Dollar Life Insurance … Continue reading Protect Your Business with a Split-Dollar Life Insurance Plan
In our last article, we introduced group term life insurance plans and how any employer, large or small, could implement this as a means of providing benefits to employees. We discussed advantages and disadvantages under these group term plans, particularly how such plans do not offer much flexibility in providing additional benefits for key employees. … Continue reading A Deeper Look at Group Carve-Out Plans
Across the country, employers are looking for ways to provide life insurance for their valuable employees. From the largest corporation to the smallest local business, employee insurance policies represent a benefit or “perk” of employment at a given business. That solution may be a group carve-out plan, says Geoff Thompson of Synergistic Life Services. The … Continue reading What is a Group Carve-Out Plan?