Busines Insurance Policy Quoting Coverage:
Insurance Coverage for Upper Level Management
If you are a high-earning executive, you know how difficult it can sometimes be to find an adequate amount of coverage. The reality is that group benefits often discriminate against those employees that are high earners. Since top earning executives expect to have great benefits, however, it is essential to provide them with just what they need while still looking out for the best interests of the company. Therefore, it is necessary to obtain additional benefits through supplemental executive programs.
When you purchase this specialized supplemental plan, you can often enjoy special benefits that are not typically found with company plans. For example, life plans typically end when the person retires or leaves the company. With supplemental executive life plans, on the other hand, these benefits can be extended. For example, you might still be covered after you retire and you might be able to enjoy a cash value component through your policy.
Depending on the upper level management life policy, you might also be able to have more freedom and flexibility, which will allow to switch to different plans if you like. Further, the face value of these benefits are typically much higher than what you would get with a group plan and you may be able to use the policy for estate tax funding or as a type of supplemental retirement plan, all of which is not typically available with life .
Another form of executive insurance you might wish to obtain is enhanced liability. With this enhancement, the executive’s lost income is covered if he or she is unable to work because of an accident, illness, or injury. It can also help to protect the business during the key person’s absence. Furthermore, this type can be created to provide the executive with coverage for various incentive programs, including stock grants and bonuses.
Executive long term care is another add-on that can be put into place to provide the executive with more coverage. This form of exec protects the executive’s assets as well as his or her spouse’s assets when in need of in-home care or care through a facility. Since most disability and health plans do not cover this type of need, it is a good idea to utilize this type of enhancement for better protection. Even better, these premiums may be tax deductible for the corporation.
Since there are so many different types of executive plans available, it is a good idea to explore all of your options carefully. Remember, with these types of key man policies, the goal is to protect the top level management members while also doing what is best for the business. If you purchase the right type of plans, you can provide your executives with the type of coverage they expect while still keeping the business successful.
If you are interested in any of these types of policies, take a moment to complete our simple online form. After you answer a few easy questions regarding the type of coverage you are in the market for, we will match you up with a number of different companies. We will then provide them with your contact information so they can get in touch with you and tell you more about the types of policies they have to offer to suit your needs.
All of the companies we work with are highly reputable and are leaders in their field. Therefore, you can take comfort in knowing that the company you select through our site will be a great choice.