Executive Benefits

All of the Corporate-owned Individual Life Insurance products offered through Kiley Insurance Agency have been designed to offer an informal funding vehicle for deferred compensation plans that are non-qualified.

Our full service program for deferred compensation includes the following services:

  • administration and record-keeping
  • custom participant communications
  • design and plan document consulting
  • multiple benefit account options
  • mutual fund financing
  • split dollar
  • trust services

Under this program the employer or the employee owns the life insurance policy and contributions are not tax deductible by the employer. The employer’s equity many be added as a bonus to the employee at the time of retirement and the employer may recover the cost. The insured’s beneficiary is entitled to receive income tax free death benefits within this program. Ask your Kiley Insurance agent regarding the Section 162 Bonus Plan.

Participation Benefits

Some of the rules/benefits for participation in our other Corporate-owned Individual Life Insurance programs include the following:

  • cash values from the policy can supplement income at retirement
  • contribution is deductible by the employer
  • employee owns the life insurance policy
  • employer contributions are taxed to the employee
  • income tax free death benefits awarded to beneficiary of policy
  • no employer cost recovery