A Pacific Life news release said the kit, aimed at small to mid-size companies, explains the advantages of a Qualified Combo Plan Using Life Insurance.
According to Alyce Peterson, vice president of marketing services for the Life Insurance Division of Pacific Life, the Qualified Combo Plan combines the use of a 401(k) profit-sharing plan with a split-funded defined benefit plan so business owners can maximize the advantages of both plans to:
- accumulate significant retirement savings in a shorter time frame
- cost-effectively meet the non-discrimination rules for qualified plans
- add potentially tax-deductible contributions to their retirement savings
- provide personal life insurance needs using pre-tax dollars.
“The Qualified Combo Plan: The Successful Business Owner’s Secret for Last Minute Retirement Savings” kit also contains information on strategy plus marketing, which clients might benefit from, Pacific Life said.
More information is available by calling 866.722.9555 or by visiting www.PacificLife.com.