It’s that time of the year again! The holidays are upon us and we’re all doing a mental inventory of things we still need to get done before the end of the year. The late holiday gift shopping is a staple, but some of us have yet to do some less exciting shopping: life insurance. You may have heard of permanent life insurance or term life insurance. Various types of life insurance plans have benefits that cater better to you and your situation.
All of that being said, health insurance can still be a bit confusing to navigate, especially when it comes to universal health insurance. To help break down the benefits of enrolling in universal health insurance, our team at LHUI has put together a list of some specific employee benefits that come with enrollment. Here are a few of the top benefits for employees to take advantage of:
Tax-Deferred Savings: This type of savings plan is beneficial for employees because it allows them to postpone tax payments on the amount of money invested into the account. Only when the amount is withdrawn, (commonly during retirement), will the account holder need to pay the appropriate taxes.
Flexible Premiums: Life can be unpredictable. Whether you have a family or it's just you on the plan, making your monthly payments on time throughout the year can be a challenge for some. With universal health insurance, you can adjust your payment amounts as circumstances change so there’s one less thing to worry about.
Long-Term Investment:With universal health insurance, employees can rest assured that they’re “covered for as long as [there is a] positive cash value amount in the account”, writes Guardian.
Adjustable Death Benefit: Similar to flexible premiums, adjustable death benefits allow for the account holder to change the amount paid out as a result of death. As employees add more cash to their accounts, they may also simultaneously lower their premiums.
At LHUI, our team of employee benefits experts is happy to help you and your business navigate the insurance marketplace and identify the best retirement plans to fit your needs. We will work alongside you to identify what you’re looking for so that we can be your one-stop partner, not a one-stop shop, for all of your insurance needs. At LHUI, we are committed to creating long-term relationships in and around The Greater Seattle, Washington area. Give us a call or email us today for a consultation! We look forward to hearing from you.
Employee Benefits Guide To Universal Life Insurance