Executive Benefit Products
Executive benefit products provide companies with the opportunity to offer additional fringe benefits to their employees. There are a variety of product designs available including both voluntary and non-voluntary offerings.
- Focus 10 Life is an individual, simplified-issue term life insurance policy to help employers provide an individual term life insurance benefit to employees without the hassle and uncertainty of medical underwriting. The program is an employer paid non-voluntary plan for white collar employees. Policies are fully portable and convertible and employees may name their own beneficiary.
- Corporate owned life insurance (COLI) is life insurance purchased by a corporation for its own use. The company purchases and owns a life insurance policy on a key employee and is the primary beneficiary. The purpose is to insure against the death of one or more key employees.
How CBIZ Individual Insurance Solutions Can Help Implement Executive Benefit Plans?
CBIZ Individual Insurance Solutions has developed a first in class network of providers to design and implement executive benefit plans. We can start with an exploratory discussion to identify the employer’s objectives and deliver recommendations and plan design options.