New Program Designed to Protect NQDC Benefits

Corporate Compensation Plans Inc. (CCP) introduced an insurance program for nonqualified deferred compensation plan benefits.

A CCP announcement said the company has designed an integrated insurance plan with three components:

  • a special disability insurance plan that will continue contributions of up to $200,000 a year into employees’ nonqualified deferred compensation accounts when they become disabled;
  • a long-term care insurance plan that protects employees’ nonqualified plan assets and income against the high costs of long-term health care. Premiums can be paid from corporate nonqualified plan contributions and the plan has a money back feature that refunds premiums if care is never needed;
  • a component that will convert income and estate taxable deferred compensation survivorship benefits into income tax-free and estate tax-exempt life insurance.




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