Executive Benefits - Spiralight Group Benefits | Results-Driven. Proven-Process.™

Executive Benefits

We know that in most cases, benefit packages and options will run consistent across the board for most of the people within your organization. However there are also those situations (especially in certain industries or vertical markets) in which the competitiveness for top talent and leadership is strong. Further, the contributions of such talent become so integral to the organizations’ success that, should such individuals be unable to report to their duties for any reason, it would have a negative impact (at least in the short term) on everyone. In this case, Executive Benefit packages are not just in the interest of the organization’s top performers, but when properly positioned to be win-win, all stakeholders benefit. These packages include:

Disability Income programs that provide benefits should someone become disabled and unable to work, either due to an event that occurred at the workplace or off.

Long-Term Care protection has become a crucial part of solid financial planning, giving beneficiaries the power of greater choice in care options should the day arrive when they are no longer able to physically care for themselves. As Americans live longer, this reality has become far more common.

Executive Life insurance options, either as an option or included in an overall compensation package, are an added benefit for the beneficiary and his or her family.

Key Person Life insurance is generally a life insurance policy taken out by an organization to cover potential financial losses that would arise from the death or extended incapacity of an important member of that business. While most policies have family as designated beneficiaries, in this case, the business or organization is the beneficiary (and it typically carries the premiums, as well).

Funded Buy-Sell Agreements are crucial to business partnerships. When two or more individuals own and operate a business together, the success of that business depends upon their individual contributions. Should one person die or otherwise become unable to contribute their share, there must be an agreement that protects all stakeholders (which includes the business itself). Buy-Sell Agreements (funded by insurance policies that the partners take out on each other) are an important component of a solid business plan.