Executive Life Insurance: Attract Top Talent with an Augmented Benefits Plan
Rewarding your top-rung employees with an executive life insurance policy shows that you truly value their services. While traditional group insurance plans may typically fall short of meeting their needs, augmented coverage can be the differentiating factor to attract and retain executive talent. Life insurance serves as income replacement for families when these executives pass on. Providing them with adequate protection is an important incentive to join your firm.
7 Benefits of Executive Life Insurance
Well-structured plans have significant advantages for employers as well as their key employees. Here are some of the benefits business owners enjoy:
- You can recruit and retain the best talent to give your company a competitive edge
- Choose which employees to reward and determine the amount as well
- Add agreements to strengthen employee loyalty
- Use it to help fund a deferred compensation program which will provide additional retirement benefits to your executives
- Structure the policy to provide your company with a death benefit equal to expected revenue loss (plus administration costs involved in finding a suitable replacement) when a key employee passes on
- Access the accumulated cash value (in a whole life insurance policy) for a variety of business purposes
- Qualify for a business or personal income tax deduction
At the Executive Planning Group (EPG), we offer a comprehensive suite of employee benefits solutions to help companies achieve their business goals. Set up a consultation to learn how our insurance programs can help your firm draw the best talent and your employees protect their financial future.
Trusted Advice on Executive Life Insurance
Our goal is to help you recruit and retain key employees in the most cost-effective manner. Deciding on the right products and packages for one of these programs can be challenging. To provide you with the best insurance solutions, we work with you to clearly understand your financial goals. Depth of experience with underwriting, accounting, financial planning and insurance enables our team to identify the products that will best suit your needs. Count on us to help you leverage customized programs and achieve your business objectives.
Combining our expertise in insurance, employee benefits and human resource consulting, our team helps you make the right investments for the growth and financial health of your organization.
Call us today at 601-982-3000 or request a quote online.