š¼ Want to reward key employees without increasing taxable income or managing a complicated retirement plan? An Executive Bonus Plan lets you offer valuable life insurance-based benefitsāwhile still taking a business tax deduction. Simple, smart, and appreciated.
Reward. Retain. Win together.
ā What We Offer
- Section 162 Bonus Plans
Business-paid premiums on a permanent life insurance policy owned by the executive - Single or Double Bonus Design
Option to cover income taxes on the bonus (or not) - Flexible Plan Design
You choose who participates and how much you contribute - Tax Advantages
Employer gets a deduction; employee receives valuable benefits
š How It Works
- The business gives a cash bonus to a key employee
- That bonus is used to fund a life insurance policy
- The employee owns the policy and names the beneficiary
- The business gets a tax deduction
- The employee gains life protection and tax-advantaged cash value
Add a restriction rider if you want to include vesting or retention conditions.
š§ How We Help You Set It Up
We guide you through:
- Selecting the right executives or key employees (It can be owners too!)
- Designing the bonus structure and contribution amount
- Choosing the most appropriate permanent life policy
- Ensuring tax and legal compliance
- Optionally coordinating with your CPA or attorney
No group plan hassle. Just tailored solutions for your top talent.
š Why It Matters
Executive Bonus Plans can:
- Help you recruit and retain top talent without salary hikes
- Offer meaningful, tax-advantaged life insurance and retirement benefits
- Give your team an edgeāand show them they matter
- Create long-term value for the business and the employee
š Letās Talk
Want to reward your teamāand still win at tax time?
Letās design a bonus strategy that works for both sides.
š Schedule a Free ReviewĀ or call 904-295-8498.