A 412(i) plan is a fully insured life insurance plan with benefits that are guaranteed by the claims-paying ability of the carrier issuing the products that finance the plan. This shifts market risk from you and your business to the insurance carrier providing the products. Since the benefits in the plan are based on the minimum guaranteed rates within these financial products, it allows for larger tax-deductible contributions than any other qualified retirement plan. If a participant dies while the plan is still active, and life insurance is used for a portion of the funding, the participant’s beneficiaries receive the net death benefit income tax free. The net benefit is also available for estate liquidity and/or survival needs. As long as a life insurance policy remains in the 412(i) Defined Benefit plan, the participant will be taxed annually on the economic benefit.
Why Spectrum Group Term Life Insurance for your 412(i) Insurance Quote
There are many reasons to choose Spectrum Group One Insurance for your 412(i) life insurance needs.
- You will only be contacted by us. We never sell your personal information to third parties.
- We use a modern quoting database to qualify you for the coverage you need and deserve.
- We have a history of excellent customer service and our attention to detail leaves no stone unturned in our effort to provide you with the best term life insurance.
- We quote various insurance companies making sure that you get the best value for your life insurance money.
- A history of excellent customer service and complete attention to detail allows your life insurance policy to be issued in an expedient manner.
- We make it a priority to quote certain rates from highly rated insurance companies.
- We pride ourselves on always answering the phone during business hour ensuring that you always speak to your assigned representative.
Spectrum Insurance Group is made up of life insurance agents who are licensed in all 50 states and the District of Columbia. Spectrum Insurance Group has helped 1000’s of consumers purchase life insurance online & over the phone.
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