Employers
Life insurance as an employee benefit
| - | Why life insurance is so important for your employees | |
| - | Voluntary benefits are part of a competitive benefits package | |
| - | The unique role of group life insurance | |
| - | Cash value life insurance: a good deal; a good differentiator | |
| - | Executive benefits help you sweeten the deal | |
| - | Advanced applications | |
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Executive benefits
Minnesota Life was one of the first companies to offer a variable group life insurance product — we are one of a handful of companies with experience in designing and administering VGUL-funded executive plans.
Variable Group Universal Life is the ideal product for employers with advanced needs and highly-compensated employees. Here are some of the benefits of VGUL:
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Potential for greater return than with a fixed return, whole life product
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Tax-deferred accumulation, tax-free withdrawals up to basis and tax-free loans at minimal interest rate
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Multiple investment options to employees
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Full investment flexibility
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Contribution flexibility
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Efficient funding of future benefit liabilities
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Tax-free transfers of assets at death
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Money can be transferred between subaccounts without tax implications
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Allows self-direction of assets in the subaccount
- Assets may be protected from corporate or personal creditors
» Variable Group Universal Life/Group Universal Life Combination plans (pdf, 185k)
This is a general discussion of the relevant tax laws. It was not intended for nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. This information is provided to support the promotion or marketing of ideas that may benefit a taxpayer. Taxpayers should seek the advice of their own tax and legal advisors regarding any tax and legal issues applicable to the specific fact pattern.
