Insurance Based Retirement Plans

Help Yourself and Your Employees Save More Money for Retirement

Retaining good employees includes offering benefits that help your team take care of their needs, such as insurance for medical, dental, life insurance, short-term and long-term needs. Have you considered utilizing the power of life insurance for your employees’ retirement goals? Your crew can harness the benefits of life insurance to protect their families and the benefits of retirement income to protect their future.

When you offer an insurance based retirement plan, you give your employees the power to save more money and stay comfortable during their golden years. Our insurance agents at The Nowell Agency understand the power of a robust benefits package. We can walk you through the different options available and give your team the empowerment they need to protect their future.

Insurance Based Retirement Plan Benefits for Your Employees

With all the retirement savings choices out there, it can be hard to choose the right options. Here are just a few benefits your employees can enjoy:

  • Death benefits – In the unfortunate event of death, the death benefit guarantees life insurance protection for the beneficiaries. It may even be tax-free in some instances.
  • Generous contribution limits – Unlike other retirement vehicles that limit how much money you can contribute, an insurance based plan allows for generous or no contribution limits.
  • Access to tax-free income – This benefit can be used through loans or partial withdrawals.
  • Control is in your employee’s hands – Each one of your team members owns their life insurance policy. Additionally, they are in control of accessing any cash value, naming their beneficiaries, and determining their investment choices.

Insurance Based Retirement Plan Benefits for You as an Employer

The benefits do not just stop with your employees. Here are a few benefits you, the employer, can enjoy:

  • No impact to existing qualified plans – Even if you already provide other qualified plans for your employees, there is no conflict to adding an insurance based retirement plan.
  • Does not have to be formal – This benefit can be structured as a group benefit without the hassle of establishing a formal plan with all its requirements.
  • No Administration or bookkeeping – You have enough bookkeeping tasks to worry about already. There is no need to set up administration of this benefit. We can take care of that for you.
  • No out-of-pocket expenses – Unlike some other retirement vehicles that require the employer to make regular or matching contributions, there are no out-of-pocket payments needed from you.

A knowledgeable agent at The Nowell Agency can discuss with you the advantages of offering income based retirement plans to your existing benefits package.

Secure an Insurance Based Retirement Plan from an Experience Agency

At The Nowell Agency, we understand the importance of providing the best benefit options for your employees. We work with a variety of insurance companies to find you the right retirement vehicles for your team’s needs. We have the knowledge and experience you can trust to assist you. One of our agents will be happy to design a customized retirement plan to suit your company’s goals.

Contact one of our offices near you or email us to schedule a meeting with a knowledgeable and experienced agent at The Nowell Agency. Request More Information.