BENEFITS PACKAGE

A benefits package is very important as it makes an employer attractive to potential employees. The fuller the benefits package the more attractive the company is to employees. A benefits package starts with health coverage, then goes to life coverage which also includes key personnel Life to pay back for key employees and the loss when they are not there. Then there is health supplements like disability and accident and can and critical illness and hospital Indemnity. After these are things like Prepaid Legal and identity theft protection and telemedicine.

Group Health Policies

Group Health is an employer based plan and must be grandfathered in or be an ObamaCare Group Plan. Must have two Optional Items that are usually dental and vision. If offered in a Cafeteria Plan then these benefits lower the taxable income so that employer and employee pay less in taxes. Also, Group Medicare Health plans can be offered to your employees that are turning 65 or are older than 65 to get them off the Group Plan and on Medicare without forcing them to retire. The plus to this is it can lower your Group Health Insurance rates while still providing benefits to these workers.

The following benefits when added on along with health insurance can help to lower your workers compensation rate at your next renewal.

Health Supplements

There are a wide range of Health Insurance Supplements that can be bought so that you have additional Health Insurance benefits. Accident, Hospital Indemnity, Cancer, Critical Illness, Dental, Vision, Short-Term Disability, Long-Term Disability, Short-Term Care, Long-Term Care, Telemedicine, and Telecounseling.

Telehealth

For the member and up to five dependents we have Tele-Doc as a benefit and soon will have Tele-Counselor. Does it give you added Value services? Have an accidental death and dismemberment and a hospital confinement benefit and an accident benefit if the member is injured in an accident and it does not have to be an auto accident for the member. Do you have Roadside Assistance? Does it have a deductible?  We have Roadside assistance that has no deductible, and if you have a friend that can come and do that is a mechanic and he charges you for it, then we will reimburse you up to $100 per incident. Ask about all these services and how this can benefit you and what this cost because it will surprise you. Also, we offer this to individuals and as a company and benefits package.

Identity Theft Insurance

Everyone worries about Identity Theft today.  With Our Theft Identity you can rest assured you are take care of.

•    Coverage for Individuals

•    Coverage for Families

•    Coverage for Employees

Financial Package

The Financial Package includes credit repair and monitoring and many other great services for all included for one low monthly rate. The cost for the membership is a onetime $99 and a monthly $89.

Prepaid Legal Insurance

Prepaid Legal Insurance can be beneficial in many ways. Also, by offering this as a benefit to your employees it provides them a way to worry less, be more productive, and you are protected from the service being used against you as the employer.

-Free Will and Trust with free updates every year

-Tax Attorney

-An Attorney that can represent you for any matter

-Document review and Phone Calls unlimited times up to 15 pages

-and much more

•    Coverage for Individuals

•    Coverage for Families

•    Coverage for Companies

•    Coverage for Employees

•    Coverage for Commercial Drivers

In a benefits package it is important for the company to have various life policies to offer. One that a company may purchase on all employees or let the employees choose to purchase a term or permanent life policy. If the employees have the premiums deducted from their check then the rule is at least 70 % must enroll, if the employer pays the premium then 100% are required to enroll. The permanent life policies that can be offered through a benefits package are Whole Life, Universal Life, Indexed Universal Life, and Guaranteed Universal Life. These policies can at times be taken with the employee when he or she leaves the company or can terminate if they leave the company.

The final type of Life Insurance policy which some may not realize that can be offered with a company is the retirement package. This can be a 401k, Simple, IRA, or a deferred annuity. We at Ken’s insurance have knowledge on each of these and can help you with understanding the pluses and minuses of each one and how to structure them and why to offer one and not the other.

The next is any 401k, Simple, or IRA that you have already got. These can be also used to help fund other forms of retirement planning on a 1035 exchange. These options are highly tied to the stock market so when the market is up the member  is happy, when the market goes down then the member loses and is very unhappy.

The next for of retirement is actual life policies in the form of the various Universal Life Policies:

Universal Life is a policy that is permanent and earns a little bit more interest than whole life, usually around 4.5-6%. These are the start of the good retirement vehicles although with this policy it can be said to be questionable as to whether it is or not. This policy pays the death benefit and the cash value to the beneficiary. These policies can also have living benefits.

Guaranteed Universal Life Is the next Permanent life and it earns about 6% interest and can be an okay retirement policy. This policy pays the death benefit and the cash value to the beneficiary. These policies can also have living benefits.

Variable Universal Life is the next. This kind of Life policy is loaded in fees and has at least a portion of the premium invested in mutual funds/stock market. Because of this these policies if not watched closely and carefully can lapse to a declining market. They also in a positive market have the best growth potential. They pay both the cash value and the death benefit to the beneficiary. These policies can also have living benefits.

Indexed Universal Life policies when structured right will give you a share in the up-side of the stock market without the downside. These can earn between 0%-13% in interest on average although it can usually is about 6% on average. These are the best retirement vehicles out there besides annuities especially when structured right. They pay both the cash value and the death benefit to the beneficiary. These policies can also have living benefits.

 

The next is annuities. These can be structured to leave a legacy, or to provide lifetime Income. They can be loaded in fees or have little to no fees.

Immediate annuities you put the money in and within 30 days start to receive income. Depending on how it is structured it can be lifetime or long going income or be a onetime lumpsum.

Fixed Annuities are a kind of annuity that is the first of the actual deferred. The way it works is you either make a large lumpsum payment in, or make smaller payments monthly, quarterly, semiannually, or annually. The money goes in and earns between 2%-5% on average. Again when they pay out they can pay a lumpsum, or pay little along.

An Indexed Annuity uses the stock market without the risk of the stock market. These plans can gain up to 13% in Interest and when the market goes south you lose nothing. When you collect you can get a lump sum or ongoing payments.

Variable annuities are loaded in fees and heavily tied to the stock market like Variable Universal Life Policies. These are great when you are young but when you hit your forties and fifties these become a worry as your initial investment and the interest earned in these policies are at risk. Also, all the fees are assessed at each year no matter whether it makes money or not.

If you place the lifetime rider then there is a small fee, but this assures you to have lifetime payments even if you outlive the cash value. This rider can be added on to any of these annuities generally if the company offers it but it is up to the company to offer it. This rider is not needed if you are not planning to use the annuity for living expenses but instead for leaving a legacy. There is also the ability to have these pay both husband and then wife and then if there is cash left in the cash value after both of these have passed pay that to the beneficiary.

Commercial
Insurance Policies

Vehicle Insurance
Covers vehicles leased to employees to do their job. Any company vehicle or vehicle used for work needs a commercial auto policy since insurance companies won’t pay if there is a wreck and they find out you were working in the vehicle. It is also full coverage with higher minimums.
General Liability Policy
Covers the building, land, things on the property, is like homeowners for a business but naturally a larger policy.
Errors & Ommissions Policy
Protects you if you make a misstatement or error, not for deliberate or intentional acts or fraud, will cover lawsuits from these matters from legal fees to the settlement/judgement.
Bond Insurance
Covers things like harassment, or for certain industries where required and to get certain contracts.
Boiler Policies
These policies cover a specific machine that is key to the operation of the business, will pay for the down time, the repair or replacement of the equipment, can even pay for lost earnings. This Policy is not offered in all states. The states it is not then a limited coverage is offered under general Liability and the limited coverage is still offered in states where it is offered.
 
Ken's Insurance Agency specializes in all
types of insurance!
 
 
In a benefits package it is important for the company to have various life policies to offer. One that a company may purchase on all employees or let the employees choose to purchase a term or permanent life policy. If the employees have the premiums deducted from their check then the rule is at least 70 % must enroll, if the employer pays the premium then 100% are required to enroll. The permanent life policies that can be offered through a benefits package are Whole Life, Universal Life, Indexed Universal Life, and Guaranteed Universal Life. These policies can at times be taken with the employee when he or she leaves the company or can terminate if they leave the company.

Universal Life is a policy that is permanent and earns a little bit more interest than whole life, usually around 4.5-6%. These are the start of the good retirement vehicles although with this policy it can be said to be questionable as to whether it is or not. This policy pays the death benefit and the cash value to the beneficiary. These policies can also have living benefits.

Guaranteed Universal Life Is the next Permanent life and it earns about 6% interest and can be an okay retirement policy. This policy pays the death benefit and the cash value to the beneficiary. These policies can also have living benefits.

Variable Universal Life is the next. This kind of Life policy is loaded in fees and has at least a portion of the premium invested in mutual funds/stock market. Because of this these policies if not watched closely and carefully can lapse to a declining market. They also in a positive market have the best growth potential. They pay both the cash value and the death benefit to the beneficiary. These policies can also have living benefits.

Indexed Universal Life policies when structured right will give you a share in the up-side of the stock market without the downside. These can earn between 0%-13% in interest on average although it can usually is about 6% on average. These are the best retirement vehicles out there besides annuities especially when structured right. They pay both the cash value and the death benefit to the beneficiary. These policies can also have living benefits.

Business Hours:  Sunday - Saturday 9:00am - 10:00pm

Locations:

4210 Highway 51 South
Hernando, MS.  38632

Call

Office: 662-912-3914

Mobile: 662-292-6271
Fax:  662-689-9869

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