Executive Benefits are a way to provide special benefits to the owners and key people of a business. The Executive Benefits a business owner can offer are a great way to reward the people who are key to your business today, while creating incentives for continued great work and creating a platform to help recruit the people you want – those are just a few of the advantages an executive benefit program may help you accomplish.
Executive Benefits are normally provided to a select group of employees. This may include the owners, other highly compensated individuals or a select group of management. These plans are not designed to benefit all of the employees in the business.
There are a number of programs available underneath the umbrella of Executive Benefits. The information and material you will find on this page are designed to help guide you through a variety of programs and key concepts. You may find more detailed information on specific programs on other areas of this site.
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The companies of National Life Group® and their representatives do not offer tax or legal advice. For advice concerning your own situation, please consult with your appropriate professional advisor.
Discussing the Opportunities
There are a number of programs available under the broad concept of executive benefits. Each program has different tax results, cash flow requirements and documentation requirements. The key concepts in this area are called:
- Bonus Arrangements
- Split Dollar Loans
- Split Dollar Economic Benefit
- Deferred Compensation or Salary Continuation Arrangements
This presentation will provide a high level overview of some of the programs available and may help you present the basic differences among the plans and the motivation to create an executive benefit program.
Identifying Options and Benefits
Because there are a number of programs that fall under the Executive Benefits, it may seem daunting trying to decide which program will be most appropriate for a business, its owners and other key people. How to choose an executive benefit program is a mix of relevant information which will include: how the business is organized, the business cash flow, the desire for current tax benefits as well as a number of other issues.
The tools in this area are designed to help you understand the initial questions that should be asked. The tools will also provide some preliminary guidance on which programs will work best depending on your answers to the initial questions. Of course, there are many parameters that cannot be captured in these tools, so the ultimate choice of program must consider many issues and opportunities (some of which are not covered here). The companies of National Life Group® and their representatives do not offer tax or legal advice. For advice concerning you own situation, please consult with your appropriate professional advisor.
How to Choose an Executive
This presentation will provide a review of some of the key decision elements of different program.
Understanding the potential retirement and life insurance requirements faced by a business owner and their key people is the preliminary step in understanding the potential benefits of an executive benefit program.
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