Executive Bonus Plans
Executive bonus plans inspire and incentivize top performance, leading to increased productivity, innovation, and overall business success
Drive Growth, Foster Innovation, and Retain Top Talent with Executive Bonus Programs
Rewarding executives for staying with a company is one of the best ways to retain top talent. Executive bonus plans with life insurance can provide your company with a tax advantaged way to provide a vested bonus schedule for your employees.
Key Benefits
- Simple and Flexible
- "Golden handcuffs"
- Provide mutually beneficial relationship
- Tax efficient way to reward our executives
Our work process
Schedule a video or phone call to discuss your specific needs
I will design a tailored plan to solve your insurance or annuity needs
Wirt Consulting will handle the application and underwriting process seamlessly
In what ways can executive bonus plans help your business?
Executive bonus plans can provide your business with loads of benefits to help you reward and retain the talent that’s helping your business continue to grow. Here are just a few ways that it can help you:
- Enhanced Financial Security: By combining life insurance with executive bonuses, these plans provide executives with an additional layer of financial security, protecting their loved ones in the event of their passing.
- Attraction and Retention of Top Talent: Offering executive bonus plans with life insurance demonstrates a commitment to the well-being of key executives, making the organization more attractive and enhancing retention efforts.
- Tax Efficiency: Executive bonus plans with life insurance can offer tax advantages, allowing organizations to provide additional benefits to executives in a cost-effective manner.
- Succession Planning and Business Continuity: Life insurance coverage within executive bonus plans ensures a smoother transition in the event of an executive’s passing, facilitating succession planning and maintaining business continuity.
What types of executive bonus plans are there?
- Section 162 Bonus Plan
- Supplemental Executive Retirement Plan (SERP)
- Split Dollar Life Insurance
Oftentimes, you can even incorporate Long Term Care (LTC) into a company’s executive bonus plans in a tax-advantaged way!
Ready to change your insurance future?
Schedule a short introductory phone call with me and we can discuss your specific insurance needs and how I may be of assistance.
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