Business

Using a 162 Executive Bonus Plan to Reward Employees

Jeff Root Jeff Root
Posted in Business
Executive Bonus Plan

A 162 Executive Bonus Plan lets business owners reward key executives without incurring additional tax exposure. At its core, a 162 Executive Bonus Plan should feature a whole life insurance policy. Here’s how it works: The company buys the policy and pays the premiums on behalf of the employee. The employee names beneficiaries for the.. Read More

Collateral Assignment | Leverage Your Life Insurance

Jeff Root Jeff Root
Posted in Business
Collateral Assignment

A life insurance collateral assignment can strengthen your borrowing power, but it could also leave your family more exposed financially if you died unexpectedly. Before making a collateral assignment, take a few minutes to consider how the decision could affect everyone involved. By finding the right balance, you can benefit from the collateral assignment while.. Read More