Life Insurance & Workers Comp Reduction
When it comes to being covered whether at work or at home there are Two incredible benefits that the PHS Plan makes available to you!!!
A 30-60 % Reduction in your Workers Comp Premium.
We offer a Whole Group Life Insurance Policy to your employees, payable from the credit generated on their pay checks. This is Zero cost to the employer and no net cost to the employees!!
Let’s go over these two amazing benefits one by one.
- Workers Compensation Premium Reduction
By participating in the PHS Plan and offering the Benefits to your employees, YOU, as an employer are able to EXCLUDE $1,200 per employee, per month from Gross Wage Calculation for Workers Compensation Premium.
What does this mean to you?
Well, lets run the numbers:
This example is on for an employer with 200 employees enrolled in the plan:
This means that regardless of how many claims you have filed, or industry you are in, you are able to exclude these wages from the Workers Compensation Premium all together.
Are you under a PEO?
No worries! You can take advantage of this savings as well! This wage reduction works across the board in all industries and is allowed in ALL States! The PHS Plan is a tax savings covering all states. As such, the additional savings derived from the taxable wage reduction, carries through to an exclusion in those wages for the Workers Compensation Premium calculations.
- By Participating in the PHS Plan you as an employer are not only offering an extra layer of coverage to your employees at ZERO net cost to them, but you are reducing your FICA and Workers Comp Premium by 30-60%!!! That’s Thousands a year for any employer!!
- This savings can be used right a way to fund business expansion, investments, offer additional benefits, or simply have more CASH on hand every month.
You don’t have to change Brokers either.
We simply show you the savings and prepare a projection so you can see how much more money you will have available every month!
You’re not happy with your broker?
We’ve got you covered, talk with one of our professionals to get you a projection and we can take it from there. We have licensed professionals that will work with you and answer any questions you may have!
Whole Group Life insurance Policy
Life is unpredictable. Let us help you prepare your employees and their families for the unexpected with Group Whole Life Insurance. Now you can offer your employees the financial peace of mind for the future and the journey to get there. Not only do they get protection for your lifetime, but they will also have the ability to build cash value as they go. Give your employees and their loved ones a gift of love and protection with a Whole Group Life Insurance Policy at no net cost to them.
The PHS Plan, as a result of the reduction in taxable wages to the employees, will result in a net pay increase to your employees.
How is this possible?
The gross wages remain the same, but because of the PHS Plan, now taxable wages are lower than gross wages resulting in employees being able to take home more of their earned money!!
This gives them the opportunity to not only receive the PHS Wellness Benefits , but also choose a Whole Group Life insurance Policy at no net cost to them due to this savings!!
The best part is, they will still take home more money than they did before the Plan!!
When choosing a Life insurance policy, we did the homework for you, and after reviewing several products out there we have selected the most versatile Life Insurance Product.
Added Values:
- Guaranteed issued
- No medical exam require
- Employee chooses beneficiaries (does not have to be a family member)
- ZERO out of pocket cost to the employer
- Employee builds cash value every month into the policy
- Employees can take the policy with them if they change jobs
Here’s How It Works
With Group Whole Life Insurance from Allstate Benefits, you get simplified and straightforward coverage. You decide how much coverage and who to cover. You get guaranteed rates for the life of the policy and a guaranteed death benefit to be paid to your beneficiaries. As the policy builds cash value, you can achieve your financial goals or borrow against it should you need to. With Allstate Benefits Group Whole Life, you can enjoy protection for the future while building peace of mind right now. Practical benefits for everyday living.
Coverage for all stages of life
As people move through the stages of life, certain factors dictate the type of life insurance they need. During working years, an employer may provide Term Life insurance, but the wraparound coverage of our Group Whole Life product can help give peace of mind because the money you spent builds cash value that you can use later in life or add to the term benefit payout. The graph below illustrates the need for term and permanent whole life insurance throughout the various stages of life.
Like any adult who has financial responsibilities, we think about how our family would make ends meet if we died unexpectedly. Most importantly, we may think about the debt we leave behind.
Here is what we may consider:
- The cost of funerals often leaves a financial commitment behind for surviving loved ones.
- Money for day-to-day living expenses such as food, gas, and electricity will be needed.
- A substantial mortgage or rental payment may still be owed.
- Child care and education expenses for children.
Don’t miss out on all these Benefits and Savings.
Our Team is here to help.
Connect with one of our representatives for a NO COST Proposal and start savings!!
You can be that employer that CARES about their employees and not only is savings FICA and WC premium, but is including the employees in the savings by offering an extra layer of protection and tax savings to them as well.
All these benefits are at ZERO Net Cost to you!
Seems too good to be true?
Connect with one of our representatives to learn more.