Split dollar life insurance is not a type of policy (like term or whole life) but rather a form of joint ownership of a cash value policy – generally between an employer and an employee.
EBS would welcome an opportunity to work with you to review the compensation and benefit programs offered to key employees and professionals for competitiveness, cost-effectiveness and, specifically, exposure to the 21% excise tax.
Non-Profit and Privately Held Organizations have multiple compensation and benefits needs:
However, Non-Profit and Privately Held Organizations face a competitive disadvantage:
The solution? Split Dollar Life Insurance.
A contemporary specially designed Indexed Universal Life Insurance contract underlies the structure of the program and provides the key tax advantages.
The policy is owned by the participant, providing superior benefit security and control in comparison to a typical deferred compensation plan.
The policy is funded through premium loans from the sponsoring organization, secured by a security interest in the policy, which are repaid from policy cash value upon termination of employment, or from the policy death benefit.
EBS welcomes an opportunity to work with you to review the compensation and benefit programs offered to key employees and professionals for competitiveness, cost-effectiveness and, specifically, exposure to the 21% excise tax.
EBS handles plan design, carrier comparison, enrollment, underwriting, and ongoing administration.
EBS helped us to adequately fund the LTC by improving our financial modeling of plan growth and distributions and finding more cost-effective Corporate Owned Life Insurance policies.
Chris Wyrtzen has been absolutely irreplaceable in dealing with my Executive Compensation (SERP) account decisions over the last several years.
We would recommend EBS to those firms looking for creative, dedicated consultants whose plan designs meet the need to attract, retain and reward key employees.
We would recommend EBS to other companies looking for executive benefit programs that can help companies attract, retain and reward key employees.