Will your key employees remain loyal to your company?
There is no one-size-fits-all when it comes to life insurance. Getting your life insurance plan right takes into account a number of factors.
Transcript:
Recruit, Retain and Reward/Executive Bonus
[video: An illustration of a building and a trophy that says "top talent" are shown.]
The success of your business depends on smart planning. And, it’s important to take steps to help ensure your best people—and their talents—don’t leave.
[video: An illustration of a bonus plan appears and the words "recruit", "retain", and "reward" slide next to it.]
An executive bonus plan—using life insurance—can help you recruit, retain and reward your key employees.
It’s a simple concept.
[video: Steps are shown: 1. Employee applies for life insurance. 2. Employer pays the premium. 3. Employer deducts on taxes.]
The employee applies for and owns a cash value life insurance policy.
You pay the premiums as a bonus to your employee. And deduct them as an ordinary business expense on your taxes.
[video: An illustration of a shield is shown, followed by a retirement savings document that says "cash value". Illustrations of a graduation cap and a palm tree emerge from behind the document.]
The employee’s family has life insurance protection at a minimal cost. Plus, the employee can access the policy’s cash value at any time to help supplement retirement income, or for other needs.
[video: An illustration is shown of 1 set of shaking hands that turns into 3 sets of shaking hands.]
You’re creating an incentive for your key employees to stay with your company. And you get to choose the ones who will receive this benefit.
[video: An illustration of a ribbon that says "top performer" is shown.]
An executive bonus plan—using life insurance—rewards your key employees. And helps ensure your top performers remain loyal to your company.