Executive/Owner Solutions

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Executive/Owner Solutions From Lake Norman Benefits

Lake Norman Benefits can help you secure and finance the benefits company executives want.

Every company can use specialists to help them solve the challenges of financing and securing executive benefits. In addition, as the owner or highly valued executive, you are entitled to greater benefits by being in such a high level position.

We offer corporations flexible solutions for executive benefits and funding liabilities using specifically designed life insurance and other products.
Among the Executive Life Insurance Alternatives we provide are Split Dollar Plans, Financing and Securing of Non-qualified Executive Benefits, Deferred Compensation Plans and Supplemental Retirement Plans.

Highly-compensated employees have estate and tax planning needs that can be better met with alternative programs such as Variable Universal Life. This program provides permanent, portable group life insurance coverage, combined with a tax-advantaged investment option.

Executive Life Insurance Alternatives

Life insurance programs that replace or supplement the company-provided group term insurance program similar to group term. Benefits are typically set as a multiple of an executive’s salary or total compensation.

  • Split Dollar Plans where the corporation and executive can share the cost and the benefits of an individual life insurance policy. Both collateral assignment and endorsement split dollar plans are available.


  • 162 Bonus Plans where the executive owns the policy and the corporation pays the executive additional compensation to cover the policy premium.


Financing and Securing of Non-qualified Executive Benefits

Companies often look at using institutional-priced life insurance policies as a method for informally funding these plan liabilities.

  • Deferred Compensation Plans (Voluntary and Supplemental) where an agreement between the corporation and executive exists, enabling the executive to elect to defer salary or bonus or both. The executive’s deferral is paid-out by the corporation at a later date, usually at retirement.


  • Supplemental Retirement Plans typically involve a defined retirement benefit for executives provided solely by the company without any contributions by the executive/participants.


  • Excess Plans are types of deferred compensation plans maintained by corporations solely for the purpose of providing benefits for certain executives in excess of the limitations imposed by the Internal Revenue Code.


As with every line of coverage we implement, we represent many different carriers to assist us in providing this coverage. Our experience has shown that no one carrier is the perfect solution for everyone. Comparing plans from the top providers in the market place ensures that we get you the best coverage for the lowest cost. Please email or call us or request a quote.