Finding and retaining the right talent for your organization is key to the success of any company today. As the competition to attract top talent for your company continues to increase, a benefits strategy helps you attract and retain these highly talented and motivated employees.
As part of their overall compensation package, did you know that 95% of all corporations provide their key executives with supplemental executive-benefit plans, such as salary-continuation plans, deferred- compensation plans and other exceptional benefit packages.
Crissie Insurance Group helps you compete in the market when providing executive benefits to your key employees. There are a number of ways you can use life insurance as a means to fund an executive-benefits plan that makes the most of the investment you put toward the plan.
Types of Executive Benefits:
- Traditional Deferred Compensation Plans -Assists executives to diversify investments, reduce income taxes, and achieve tax-deferred investment growth. Plans can also reduce your top executives' worry about benefit repudiation, corporate control changes and corporate insolvency.
- Supplemental Retirement Plans (SERPs) - Provides today's top executive with additional retirement benefits to avoid government-imposed limits on qualified retirement plans. These plans can restore executive retirement benefits to the same percentage of pay received by other employees, and can address the special needs of mid-career hires.
- Executive Life Insurance Plans – Life insurance benefits are important to today's top executives. These tailored plans for pre- and post-retirement planning typically cost less but offer more comprehensive benefits than traditional group plans. Executive life plans offer tax-deferred cash accumulation, portability and corporate recovery or plan costs.
- Executive Disability Plans - Many studies show that disability in America is increasing. Executive disability plans provide financial security for executives and their families if a career is cut short by a disabling injury or illness. These plans supplement long-term group disability plans, providing executives with higher benefit limits, more comprehensive features, and contractual guarantees. These plans can also continue to fund retirement benefits that may end upon disability.
- Executive Long-Term Care Insurance – Provides non-discriminatory benefits to key employees without imputed or regular income taxation. Employer premium payments are fully tax-deductible. Special plans are available to be fully paid up by normal retirement age, thus alleviating the need for premium payments during retirement.
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