Executive Benefits
Explore protection and benefits considerations for owners and key leaders.
Executive Benefits
Leadership benefits should reflect the responsibilities of the people helping build your business. Standard group benefits may leave protection gaps for owners and highly compensated employees. Explore insurance and benefit considerations alongside retention and business continuity priorities, with the relevant legal, tax and financial professionals involved when a strategy requires specialized advice or implementation.
See the bigger picture
Compare existing group life and disability limits with the needs being considered. Supplemental coverage may be worth exploring where the standard program leaves a gap, subject to product availability, eligibility and underwriting.
Discuss the financial impact of losing an essential leader or specialist. Key person insurance can form part of a continuity conversation, with ownership, beneficiary structure and coverage amounts reviewed in the business's specific context.
Explore how additional benefits could support a defined leadership and retention strategy. Clarify who the program serves, what it costs and how it fits with existing compensation before considering a particular structure.
Connect insurance questions with existing succession or buy-sell arrangements. Any funding strategy should be reviewed with legal and tax advisers so policy ownership, agreements and business objectives are considered together.
A practical path forward
Identify the people, continuity concerns and benefit gaps you want to address.
Review insurance possibilities and identify where specialist advice is needed.
Bring the relevant advisers together before documents or coverage are finalized.
Let’s make it clearer
No. A business's leadership needs, budget and continuity concerns matter more than its size. Available arrangements and requirements depend on the proposed program.
It generally addresses the business's financial exposure to losing an important person. That purpose differs from coverage designed to provide a benefit to the person's family.
No. Evaluate any proposal using its actual policy terms, assumptions and risks. Tax, legal, securities and investment questions require appropriately qualified professionals.
Benefits and insurance planning should be coordinated with appropriately qualified legal, tax and financial professionals.
Keep exploring
The next step starts with a conversation
Start a conversation about executive benefits and the priorities that matter to you.