Brokers AlliancePermanent Benefit Section 79 Plans, made clear
Section 79 lets employers offer group life insurance to employees... and under the right circumstances that coverage can be combined with a permanent benefit your client keeps for life.
What Permanent Benefit Section 79 means
Section 79 of the Internal Revenue Code permits employers to offer group life insurance to employees. Group term insurance is generally used to provide the benefit, and because that coverage terminates at retirement, participating employees typically receive only inexpensive pre-retirement death benefit protection. The Treasury Regulations for Section 79 change what is possible... they provide that group term life insurance may be combined with permanent benefits under specified circumstances, which allows the use of cash value life insurance policies.
The permanent benefit that lasts
A Permanent Benefit Section 79 Plan gives employees who elect more than the group term coverage a cost-efficient, personally owned cash value policy. That single election changes the outcome in ways the group term coverage alone never could.
One solution... not the only one
A Permanent Benefit Section 79 Plan is one way to solve for lifelong coverage and supplemental retirement income. More often than not, Premium Finance is a more suitable option for clients looking to fund their retirement. The right partner helps you weigh both against the client in front of you, rather than forcing every case into a single concept.
Training, tools, and presentations
Advanced concepts sell when the client fully understands them. Brokers Alliance puts the training, the selling tools, and the presentation materials at your fingertips, so you can demonstrate the added value of permanent life insurance and begin the sale in one convenient place.
Ready to put Section 79 in front of the right client?
Get contracted with Brokers Alliance and put advanced planning training, carriers, and tools behind every case. Call (866) 872-9394.
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