Employer Benefits
Protecting Employees and Their Families
Your employees, both current and future, are considering how your benefits package will protect them and their families from the unexpected, in addition to adequately planning for retirement. Designing an attractive employee benefits package may seem expensive. However, tax considerarions1 can help offset the overall cost. Our team can help you supplement your employee benefits, or help design a package from scratch that helps you attract and retain top talent.
Group Life Insurance
Life insurance is a crucial benefit that many employees have come to expect from their employer. Contact our team for more information about how to build group life insurance benefits into your company’s benefits plan.
Disability Income Insurance
In addition to workers compensation, employees need to know that they can continue to provide for their families and fund their retirement if they are unable to work due to illness or injury which occurred off the job. Meet with our team to discuss how we can supplement your benefits package with disability-income benefits.
Guaranteed Standard Issue Disability Income Insurance
Guaranteed standard issue disability income insurance is supplemental individual disability income insurance for employees. This coverage may help protect a higher amount of income than a group long-term disability insurance policy alone. Supplemental coverage can help reduce the gap between current earnings and benefits available through a group long-term disability insurance policy.
Business Overhead Expense Insurance
Business overhead expense insurance provides funds to reimburse business owners for fixed overhead expenses, such as employee salaries, rent, leases, and utilities. Business overhead expense insurance premiums are generally tax deductible as a business expense and policies can be customized to the specific needs of the company.
Executive and Key Person Benefits
Your organization needs expert leadership, and experts require exceptional benefits to confidently resist offers from competitors. Our executive and key person benefits are the “golden handcuffs” that can help keep your company the obvious choice for current and future execs.
Executive Bonus Arrangements
An executive bonus arrangement (sometimes referred to as a Section 162 bonus arrangement, which references the Internal Revenue Code section upon which it is based) is a fringe benefit funded with life insurance and given to a select group of key people and/or business owners. In addition to providing protection to the executive’s family during their working years, an executive bonus arrangement funded with whole life insurance can provide tax-advantaged supplemental retirement income.
Executive bonus arrangements are relatively simple to set up and administer and can accommodate almost any budget. Talk to our team to discuss the right solutions for your specific company.
Planning For Your Employees
A well-structured benefits package is the key to attracting and retaining top talent. When making benefits decisions, you should always be considerate of your employees’ needs, competitors’ offerings, and costs to your bottom line.
Our team can help structure your benefits offerings to help maximize value to employees while looking to keep costs at a minimum. It is our job to ensure your benefits package fits your business’ short- and long-term financial goals.
1The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. We are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
