Employee Benefits
Explore Employee Benefits
Are you a business owner who wants to retain high-performing employees? As an employer, your employees most likely expect a benefits plan. Offering benefits like health insurance packages, retirement plans, and short and long term disability insurance shows your employees that you value them and care about their futures. We also provide options to offer Executive Benefits, Succession Planning, Key Person Insurance, Buy-Sell Agreements, Deferred Compensation to key members of your team, as well as supplemental benefits like Employee Whole-Life Insurance, Long Term Care Insurance. Often times these can be offered at no additional cost to the employer and even have tax benefits. Explore our many employee benefit plans featured below!
Group Term Life Insurance
If you’re looking for an efficient way to provide life insurance to your employees, group term life insurance may be right for your business. This type of insurance plan covers multiple individuals and typically is available at a base amount. Employees are eligible to purchase additional coverage for their spouse and dependents. Group term life insurance is favorable among employees due to its low-cost nature. Think group term life insurance is right for your business? Contact Wanda Bastert to learn more.
Group Short Term and Long Term Disability Insurance
Although employers are not required to offer short and long term disability insurance, “about half of large and mid-sized employers offer it to their workers,” according to the Insurance Information Institute. Short term disability insurance offers benefits for shorter periods of time, from three months to one year. Long term disability, on the other hand, offers longer increments of time, from two years up to 10 years. As an employer, you make the decision whether to contribute to the benefit or have your employees pay the whole premium. To learn more, contact Wanda Bastert.
Employee Retirement Plans (SIMPLE IRA & SEP IRA)
Looking for a simple way to offer retirement benefits to your employees? SIMPLE and SEP IRA plans offer the benefits of a traditional IRA, but with less hassle and mandates. That’s because most 401(k) administrators prefer to take on mid to large size companies that bring assets to the plan, unlike small businesses who may not bring as many assets. SIMPLE (Savings Incentive Match Plan for Employees) and SEP (Simplified Employee Pension) plans are ideal for small business owners who are looking to set up retirement plans for their employees without the hassle of traditional retirement accounts. Questions about SIMPLE or SEP plans? Contact Wanda Bastert today.
Executive Bonus Plans
Retaining top talent isn’t always an easy task; it takes time, patience, and consideration. When recruiting for key positions, you may look at benefits differently. Not to mention, executive-level talent oftentimes expects a separate set of benefits. Executive bonus plans, also known as Section 162 Plan, are benefits created to attract, retain, and reward top employees. Executive bonus plans also provide a permanent life insurance policy that the employee owns and also offer a cash value for the policyholder’s beneficiary. This type of plan is covered by the employer. Interested in learning more? Contact Wanda Baster today.
