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Why An Executive Bonus Plan?
Executive bonus plans (also called "Section 162 plans") at ALVA Financial Group utilize the options of insurance policies as a tax-conscious way to incentivize and retain key employees.
Your company will pay the premiums for your key employee but your employee will be the policyholder. Using an insurance policy for your executive bonuses offers employees a double bonus. A life insurance policy they essentially don't have to pay premiums on and the ability it's ability to offer your employees a secure way to save for retirement all in one, provided by your company. That's a company I'd work for!
Executive bonus plans (also called "Section 162 plans") at ALVA Financial Group utilize the options of insurance policies as a tax-conscious way to incentivize and retain key employees.
Your company will pay the premiums for your key employee but your employee will be the policyholder. Using an insurance policy for your executive bonuses offers employees a double bonus. A life insurance policy they essentially don't have to pay premiums on and the ability it's ability to offer your employees a secure way to save for retirement all in one, provided by your company. That's a company I'd work for!
Why An Executive Bonus Plan?
Why An Executive Bonus Plan?
Executive bonus plans (also called "Section 162 plans") at ALVA Financial Group utilize the options of insurance policies as a tax-conscious way to incentivize and retain key employees.
Your company will pay the premiums for your key employee but your employee will be the policyholder. Using an insurance policy for your executive bonuses offers employees a double bonus. A life insurance policy they essentially don't have to pay premiums on and the ability it's ability to offer your employees a secure way to save for retirement all in one, provided by your company. That's a company I'd work for!
How An Executive Bonus Plan Benefits My Business?
Speak with an agent today to help find you the right executive bonus plan for your key employees. Our team works to guide you through the process to design a policy affordable and tailored to your company's personalized restriction choices to ensure only the best for your business.
ALVA Financial Group, here to secure the legacy of your business for generations.
Tax Deductions
Your business can choose to deduct taxes on the premiums you pay for your bonus life insurance plans.
Encourage Performance
Adjust your premiums based on how well your employee performs, often called Key performance indicators (KPI), or by choosing a pre-determined date to have access, such as retirement.
Retain Key Employees
Section 162 plans work as a free life insurance policy for your employees. Providing your key employees and their families the peace of mind of proper coverage should they pass. Because the insurance policy generates cash value, it acts as a double bonus offering a secured tax-free retirement
Eliminate Outsourced Funding
Through traditional bonuses you'd tend to have to withdraw from stocks or other investments. An executive bonus policy is a secure way to ensure a consistent payout to top executives without having to use other sources of funding