Executive UL – Protective

In executive benefits and corporate needs cases, Protective Executive UL enables you to offer organizations the valuable incentive of life insurance coverage tailored to the protection of their executive-level employees.

OPPORTUNITIES

• Carve-out plans designed to reward highly compensated employees with an additional benefit beyond what may be available through an organization’s traditional group term life insurance benefit plan
• Create more coverage by adding death benefit coverage for each executive-level employee
• Achieve a lower cost and better plan provisions by replacing existing coverage

Term Life – Principal

For simple and affordable funding options that meets a variety of business needs, Principal’s Term coverage allows up to $5 million of death benefit on a guaranteed issue* basis.

HIGHLIGHTS

• Business in industries like, law, architecture, engineering, healthcare, financial services, and manufacturing can benefit from key person, buy-sell arrangements, deferred compensation and executive carve-out
• Each insured is covered by an individual 10 or 20 year term life policy with guaranteed level premiums
• Policies can be converted in the future to permanent insurance with no proof of insurability

Disability – Principal

Adding individual Disability Income (DI) insurance to highly compensated employee’s and executive’s group coverage can help provide much-needed additional income protection for them, and help business retain these employees. 

HIGHLIGHTS

• Employers with five or more highly compensated employees (earning $100k+ annually)
• Businesses like technology, banking, engineering, consulting and accounting are excellent prospects
• No underwriting* and employee owns the contract
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