EXECUTIVE BONUSES

A company can help key executives purchase additional life insurance through an executive bonus plan. The executive owns the life insurance policy and pays the premiums, and the company "bonuses" the executive an amount equal to the premium and tax liabilities. The executive can use the policy’s cash value to supplement their retirement funds or for other purposes. If they were to die during employment, the policy’s death benefits would be paid to the insured’s family typically income tax-free.

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