In today's marketplace, you need help in solving the challenges of financing and securing benefits for your executives.

Benico, Ltd. has the experience and expertise to provide companies and organizations with solutions to these challenges. We offer solutions for executive benefits and funding liabilities using specifically designed life insurance and other products.

Life Insurance Alternatives for Executives:

Life insurance programs that replace or supplement the company-provided group term insurance program similar to group term. Benefits are typically set as a multiple of an executive's salary or total compensation.

• Split Dollar Plans where the corporation and executive can share the cost and the benefits of an individual life insurance policy. Both collateral assignment and endorsement split dollar plans are available. Click here for an explanation of new IRS guidelines (IRS Notice 2002-08) on Split Dollar Plans. Also, IRS Notice 2002-08 may be viewed by clicking here.
• 162 Bonus Plans where the executive owns the policy and the corporation pays the executive additional compensation to cover the policy premium.
  

Financing and Securing of Non-qualified Executive Benefits:

Companies and organizations often look at using life insurance policies as a method for informally funding these plan liabilities.

• Deferred Compensation Plans (Voluntary and Supplemental) where an agreement between the corporation and executive exists, enabling the executive to elect to defer salary or bonus or both. The executive's deferral is paid-out by the corporation at a later date, usually at retirement.
• Supplemental Retirement Plans typically involve a defined retirement benefit for executives provided solely by the company without any contributions by the executive/participants.
• Excess Plans are types of deferred compensation plans maintained by corporations solely for the purpose of providing benefits for certain executives in excess of the limitations imposed by the Internal Revenue Code.

If you would like more information about nonqualified executive benefits, please contact us at 888-669-4883, or email us at info@benico.com.