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Group Health

Health insurance is usually one of the foundational benefits of a comprehensive benefits package.  Since health insurance is often most affordable through an employer-provided plan, you want to make sure that you are offering this benefit to eligible employees. If you are not offering it, your competition will be.

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Group Vision

Vision insurance often functions like dental insurance — it is a health insurance add-on policy that allows an employee to seek vision care, as well as purchase contact lenses and glasses at reduced rates. Usually, an employee can add family members, like a spouse or children to all their health insurance plans, thus providing coverage for the whole family.  This can be offered as a voluntary benefit or you as they employer may choose to contribute towards the employee's premiums.

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Retirement Plans

The final foundational component of a comprehensive benefits package is the retirement package. Many companies offer 401(k) or other similar retirement options, such as a 403(b), SEP IRA or SIMPLE IRA for their employees. Most provide matching, meaning whatever amount the employee chooses to contribute to their plan, the company matches, helping the employee save for their retirement faster.

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Group Short Term Disability

Short-term disability insurance provides an employee with a percentage of their pay if they are unable to work because of a short-term injury or illness, usually categorized as 12 weeks or fewer off of work. Often, short-term disability includes childbirth coverage.

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Group Dental

Many employers include dental insurance as an add-on to the provided health insurance plan. In most cases, it is highly affordable for you as the Employer. This can be offered as a voluntary benefit, or you may choose to contribute towards the employee's premiums as well.

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Group Long Term Disability

Long-term disability provides some income in the event of an injury or illness that keeps an employee from working for long periods of time, like several years.

Group Life/AD&D

A life insurance policy provides a death benefit to a selected beneficiaries, usually a spouse, children or other immediate relatives, in the case of a death while working for the company. Many companies also include accidental death and dismemberment insurance with life insurance that provides a payout to an employee's loved ones. You can offer a Flat Death Benefit Amount, such as $10,000 or $25,000 or more, and you can also match death benefits to a multiple of annual income.  There are no medical questions up to a certain amount of death benefits, but this may be required if exceeding the limit per the contract.

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Buy-Sell Planning

A buy-sell agreement provides a plan for the orderly transfer of any owner's business interest. Consider a buy-sell agreement for your business if: You have two or more owners. You want to provide protection in the event of any owner's termination of employment, retirement, divorce, disability, or death.

 

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GAP Plans

A medical gap insurance plan is simple in that it follows an employer's major medical plan. It pays off the underlying major medical plan's Explanation of Benefits (EOB) directly to the subscriber or provider. A gap plan pays the benefits described in the Schedule of Benefits up to a maximum benefit amount

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Non-Qualified Deferred Compensation Planning

A nonqualified deferred compensation plan is a type of retirement plan that allows select, highly compensated employees to enjoy tax advantages by deferring a greater percentage of their compensation (and current income taxes) than is allowed by the IRS in a qualified retirement plan.

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Keyperson Life Insurance

Key person insurance offers a financial cushion if the sudden loss of a certain individual would profoundly negatively affect the company's operations. The death benefit essentially buys the company time to find a new person or to implement other strategies to save (or shut down) the business.

In a small business, the key person is usually the owner, the founders, or perhaps a key employee or two. The main qualifying point is whether the person's absence would cause major financial harm to the company. If this is the case, key person insurance is definitely worth considering.

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AFLAC

Accident, Cancer, Critical Illness, Final Expense, Life, Pet Insurance, Hospital, Supplemental Dental/Vision and Short Term Disability

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