Recruit, Retain and Reward/Executive Bonus
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.
An executive bonus plan—using life insurance—can help you recruit, retain and reward your key employees.
It’s a simple concept.
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.
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.
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.
An executive bonus plan—using life insurance—rewards your key employees. And helps ensure your top performers remain loyal to your company.