Key Employee Benefit Plan | Preferred Choice Financial Group

Key Employee Benefits

Stand out from the competition by offering your top employees a compensation solution that is:

Simple to implement | Easy to understand | Exclusive for your best employees | Focused on wellness

Thinking about your employees?

Key Employee Benefit Plans, or Executive Benefit Plans is one of the easiest approaches to enhance a compensation package for key employees. As an employer, you can stand out from the competition by offering your top employees a compensation solution that is: Simple to implement, easy to understand, exclusive for your best employees, focused on wellness.

Key Person

Every business has key people who keep things running successfully — through ideas, know-how, experience
and leadership.

The loss of such an employee to premature death can significantly impact a business’s revenue. That’s why
identifying those key employees — and developing a plan to protect your business against the possible cost of
losing them — can be a critical component of your overall business plan.

Would you like to offer a valuable benefit to select top employees that is cost-effective, simple to implement and administer, and encourages the employee to stay with the business long term? If so, you many want to consider an Executive Benefit Plan, Key Employee Benefit Plan, or a Restricted Endorsement Bonus Arrangement (REBA)

Get a quote for a key employee benefit plan

Loss of a Key Employee can Lead to :

• A void in management
experience and leadership
• Disruptions in production
• Reduction in credit rating
• Reallocation of capital to
find and train a replacement

In a smaller or more closely
held business, the loss of a
key employee may have a
greater impact, since individual
employees often make a more
significant contribution to the
business’s profitability.

Retain Key Talent

Benefits to the Employer

• Contributions are generally fully
• Arrangement does not have to be
prequalified by the IRS and can be
terminated without IRS approval.
• Employer chooses which employees
to include
• Bonus amounts can be set
differently for each employee
• Can be used to attract and retain
top talent

Keeping your employees more closely tied to you is about creating rewards that benefit them while incentivizing their loyalty to you. Employees are looking for ways to meet their family’s financial needs, protect their survivors in the event of a premature death, and to ensure their legacies.

One way to meet their needs, while keeping them tied to your business, may be through an Executive Bonus
Arrangement funded by life insurance.

Benefits to the Employee

• Employee owns policy not subject to
a vesting schedule
• Access to cash value accumulated
in the policy
• Beneficiaries generally receive the
insurance death benefit income

An Executive Benefit or a REBA are great options to consider when you want to recruit, retain, and reward key employees. You can design a plan that is flexible, benefits your business, and creates a valuable benefit for your employees. An Executive Benefit Plan is simple to administer and execute, but for a plan that offers a “golden handcuff,” a REBA might be the right fit. Work with your Preferred Choice Financial Group adviser to create a plan that suits you and your employees’ needs.

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Mailing Address: 

1429 County Route 38

Parish, NY 13131

Toll Free: 877-717-7234

Fax: (315) 968-9415


Agency Hours:

Mon - Fri: 9:00am - 5:00pm

Sat - Sun: Closed

* If you need assistance outside normal business hours, please schedule an appointment with an adviser.

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