Split-Dollar Life Insurance
Split-dollar life insurance is another way to help retain your executives. It is an arrangement that allows you to offer valuable life insurance benefits to your executives and share the cost.
At Corporate Financial, we realize that as a business owner, you cannot keep up with all the different ways to enhance and retain your executives. A split-dollar life insurance plan is an agreement between an employer and an employee in which they hold joint ownership of a permanent cash-value life insurance policy, including its benefits and premiums.
Split-dollar life insurance can mutually benefit employers and employees, with each party gaining different advantages. For example, employees receive quality life insurance for little cost and may be able to access tax-efficient income through withdrawals or loans. In turn, employers can attract and retain top-level talent, knowing they can ultimately receive a guaranteed return on their investment when the agreement ends.
Let’s schedule a time to discuss all of the possibilities to help your firm attract and retain key executives in your firm.