The Benefits of an Executive Bonus Plan using Indexed Universal Life [How To Set Up]

Jason Herring, our IUL specialist, discusses using an overfunded indexed universal life insurance policy to set up an executive bonus plan, a/k/a Section 162 Bonus Plan. This is a great tool for business owners for attracting, retaining, and rewarding key employees, as a "golden handcuffs" incentive.
In this IUL insurance example, we have an employer paying a $40,000 bonus for 10 years to the employee in a Section 162 Bonus Plan. After 10 years, the employer no longer pays into the executive bonus plan. At year 20, the employer can take tax-free retirement income of $77,527 a year, which over 20 years is a total of $1.5 million in tax-free retirement income.
🔎About Jason and Steve
✅Jason Herring
* 13+ years Asset Protection, Estate and Wealth Transfer Planning
* Indexed Universal Life Insurance Specialist
* Series 6, 63 and 65 registrations.
* IBC & IUL Strategist & Coach
✅Steve Gibbs
*24+ years Trust and Estate Planning Attorney
*Co-Founder of Insurance and Estates
*Infinite Banking Advocate & Coach
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➽➽➽DISCLAIMER: All content in this video is for educational purposes only and is not to be interpreted as personal financial advice. Always do your own due diligence.

[@michaelolson4135]

Can the owner be the Key Employee of his business?

[@InsuranceandEstates]

Hey Michael, that’s a goal to consider in a 1-1 conversation due to a lot of complexity. Thanks for connecting!