NG Employee Benefits Savings and Insurance (NGEB-IUL)

Employee Benefit Program

NGEB’s IUL-based plan is a dual benefit program that combines a savings element with permanent – universal life insurance. Some of the highlights of the program include:

  • Tax-advantaged / Tax-deferred growth.  Because savings element is combined with permanent universal life insurance, savings grow tax-advantaged / tax-deferred under Internal Revenue Code 7702
  • NGEB’s IUL-based plan is a non-ERISA program
  • Benefit program can be offered to all employees or restricted to include only designated employees
  • NGEB’s plan can be used as a primary benefit program or, if an organization already offers a benefit plan and would like to increase participation levels, the program can be used as an optional program alongside an existing employee benefit such as a 401(k) or other benefit plan.
  • Savings account element of the program is funded with after tax dollars
  • Under Internal Revenue Code 162, related employer expenses are 100% deductible in the year expenses are incurred
  • Program has a guaranteed 0% base or floor (contributed savings portion is 100% protected from any loss and annual returns credited to account cannot go below 0%)
  • Average annual returns for 7 of last 10 years have been between 10 – 15% (please note: past market performance does not guarantee future market performance)
  • Account values are annually locked-in
  • Policy holder has access to savings account / cash values after first year without incurring an IRS 10% early withdrawal penalty (or as per any Company Agreements)
  • Once savings accounts have been given time to accumulate – account values can be used as collateral for preferred loans from insurance carrier and accessed tax free
  • First-day permanent / universal life insurance coverage for insured individual
  • Savings / account values are backed / protected by the issuing company.   Life insurance companies are some of the oldest, largest and most financially stable institutions in the world.