A specialized term life insurance plan that employers may offer to a select group of high-value employees (such as executives). The plan has several benefits over traditional group term life insurance for coverage amounts in excess of $50,000. It does not expire upon retirement, it builds cash value, and it is employee-owned and therefore readily portable. With some plans, the premium amount may also be locked in so it does not increase with age.
Related information about group carve-out plan:
- Group Carve-Out Plan Definition | Investopedia
Under a group carve-out plan, the employee retains $50000 of ordinary group term life insurance coverage, but the rest is provided by a universal life insurance ...
- A Group Carve-Out Plan in Action - Financial Services Online
Here's how a group carve-out plan could work to selectively reward and retain your key employees... BEFORE THE GROUP CARVE-OUT... In this example, the ...
- What is group carve-out plan? definition and meaning
Definition of group carve-out plan: A specialized term life insurance plan that employers may offer to a select group of high-value employees (such as ...
- Group Carve-Out Plan - Sunset Life Insurance Company of America
Group Carve-Out is an employee benefit plan that helps selected key employees purchase permanent Life Insurance on a favorable cost basis. How it works.
- Executive Benefits Network : Non-Qualified Survivor Benefits
A group carve-out plan provides permanent, portable death benefits with tax- deferred capital accumulation. With a group carve-out plan the employer chooses ...
- Non-Qualified Retirement Plan - Definition, Benefits & Examples
A cousin to the group carve-out plan is the Section 79 Plan, a program that is appropriate for small, closely held businesses that file as C corporations or elect C ...
- Key Employee Insurance - W3 Wealth Management, LLC.
May 7, 2008 ... Under a group carve-out plan an employer removes or carves out one or more highly compensated employees from the life insurance ...
- Presentations
Executive Benefit Planning Issues; Executive Bonus Plan; Insured Death Benefit Only Plan; Business Split-Dollar Life Insurance Plan; Group Carve-Out Plan ...