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Small Business Planning

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Small Business Planning

Small Business Planning Information

How would you like a tax-advantaged strategy that allows you to... Implement your plan, apply for insurance, identify participants and add benefits to Business

• Flexible contributions and multiple designs are available

• May select among employees and may include business owner employee as a participant

• Bonused dollars are tax-deductible to the company as compensation

• Simple to implement: no IRS approval required

• Provide incentives to reward and retain key employees Benefits to Business Owner and Key Employees

• Receive a valuable benefit

• Participant owns the life insurance policy and selects their beneficiary

• Potential for retirement income through tax-free loans and withdrawals

• Accelerated benefit riders offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury

• Determine the amount and time of distribution

• Cost for this program may be less than other types of arrangements

• Heirs receive an income tax-free death benefit*

• You may be able to pay income tax that is due on the bonus using loans and withdrawals from the policy An Executive Bonus Plan helps you stand apart from the competition by providing meaningful benefits to you and your employees. 

How it Works Begin Enjoying Executive Benefits Commit to Your Executive Bonus Plan Design your plan Participant has tax-free death benefit for heirs, or potential for supplemental retirement income through policy loans and withdrawals Business pays premium to the insurance company and treats it as a bonus to the participant to fund personal life insurance Life insurance accumulates cash value that may be used by the participant to pay the taxes on the bonus. 

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