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.
More information is available at www.corpcompinc.com.