Tri-Zen Plan
Most compensation plans designed to attract and retain top performers usually involve a bonus plan that is essentially an unrecoverable cost to you, the business owner. In fact, some industries are so competitive that even after paying a large sign-on bonus, you could still lose your top performer to a competitor offering a bigger incentive. The Tri-Zen Plan is an incentive strategy that can help you retain key personnel and transform the bonus plan you offer into an asset instead of a liability on your balance sheet.
The Tri-Zen Plan offers the following benefits:
- $3 for every $1 contributed to the policy
- Only five contributions by the employer with lender-matching contributions; lender makes all contributions for the next five years
- Tax-deferred growth
- Tax-free withdrawals
- Chronic, critical and terminal illness coverage
- Critical injury protection
- Tax-free death benefit for loved ones