Life Insurance for Business Owners
There are many issues that keep your business owner clients up at night. Choosing the right benefit plan for themselves and their key employees should not be one of them.
In today’s competitive workplace recruiting, retaining, and rewarding key employees is a top priority for your business owner clients. Whether hiring new key people or keeping those that they have come to rely on, benefit plans are often the leveraging tool that makes the difference and puts them ahead of the competition.
As you consider the many options available to them, we believe you should expand your thinking to be certain your business owner clients are also rewarding themselves in the process.
Have your clients ever considered a Premier Bonus Plan?
Your business owner clients might think of life insurance as a tool just to protect their family, but life insurance can serve more purposes than just basic death benefit protection. Life insurance is a tax-deferred accumulation vehicle that (if properly structured) can provide business owners with options to mitigate their tax burden while rewarding themselves and/or their key employees.
Indexed Universal Life Insurance
A Premier Bonus Plan utilizes permanent, cash value life insurance (typically indexed universal life insurance) and was created as a strategy for business owners to reward themselves and their key employees with a tax-advantaged retirement program. The advantage for the business owner in this strategy is the premier bonus plan counts as salary. That allows the employer to reward their employee(s) while claiming the bonus as a deduction on their business taxes for premiums paid into the policy.
IUL Software
Do you work with any business owners who may be a fit for a premier bonus plan? We have proprietary IUL software that will help you generate a turn-key presentation explaining this strategy.