Are you taking
advantage of the strategies available to reward your key
employees and executives? Have you considered the thought
of a top sales person or manger leaving your firm to accept
a better offer elsewhere? Retaining and attracting key
employees is crucial to the ongoing success of any company.
In today’s
competitive job market, it becomes increasingly important
to offer additional benefits to these selected key people.
Many successful businesses recognize the importance of their
key employees and use executive benefit plans to provide
added supplemental benefits. Many executive benefit plans
allow the company to discriminately choose the key executives
that may participate and reward them for their valued service.
In most cases, a cash value life insurance policy is an ideal
vehicle for funding these executive compensation arrangements.
The advantages of using cash value life insurance include:
potential tax free death benefits and tax deferred growth
of cash value.
The most popular types of executive compensation plans include:
the Executive
Bonus Plan, Deferred
Compensation Plan, Salary
Continuation Plan, and Supplemental
Executive Retirement Plans (SERPs). The plan that works
best for your company will depend upon the structure of your
business and the objectives of the business owners. More
specific details on each type of executive compensation plan
can be found by clicking the appropriate plan below.
For additional information on key
executive compensation options, please call MEG Financial
today at (877)
583-3955. One
of our licensed insurance professionals will assist you
with any questions and provide a custom quote.
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