Providing financial solutions to complex business needs

Current U.S. tax code and ERISA regulations restrict the ability of high-income executives and professionals to accumulate significant wealth for retirement using qualified plans as a sole means to fund retirement. In addition, highly compensated professionals may find themselves challenged to manage and distribute wealth efficiently if it is held in conventional taxable accounts. Other organizations may seek greater flexibility in how they attract, retain, and reward highly valued employees and business partners.

Our institutionally priced products include universal life and variable universal life policies that offer opportunity for unlimited contributions, liquidity, tax-deferred growth, tax-free access to cash values and beneficiary protection in the form of a tax-free death benefit.

What can executive benefit solutions from Great-West Financial® do for my business?

Great-West Financial® partners with financial professionals nationwide to offer a specialized line of products to help meet a broad range of personal and professional goals. Financial professionals — whether retirement-focused advisors and consultants or wealth management specialists who meet our criteria for selling and servicing our products — who work with high-income executives, corporations, banks, partnerships and retirement organizations are able to leverage our products in ways that serve the highly customized needs of their clients.

Our commitment to collaborating with and serving the needs of financial professionals and our distribution partners in the business solutions space is unparalleled.

Bank-Owned Life Insurance

Great-West Financial offers two bank-owned life insurance (BOLI) products designed to help community banks finance the cost of executive benefits on a tax-free basis. The Single Premium Universal Life product offers a bank a stable interest-crediting rate where the premium is invested by Great-West Financial professionals in our General Account. The Hybrid Single Premium Universal Life product combines the key features of a separate account BOLI product with those of a general account BOLI product, allowing clients to better customize their investment portfolios and pursue their investment goals.

Corporate Owned Life Insurance

Great-West Financial’s Corporate Owned Life insurance products are highly customized, comprehensive accumulation and distribution solutions designed to help high-income executives and businesses address a range of personal and professional financial goals. In addition to investment opportunities, COLI offers a number of advantages, such as tax-free growth, tax management and control, and tax-free distributions and death benefits. The Registered Variable Universal Life product offers over 100 insurance dedicated funds to choose from and can be purchased by a corporation of any size. The Private Placement Variable Universal Life product offers over 300 insurance dedicated funds and complete flexibility in product design. This product is only offered to accredited investors.

162 Bonus Plan

The 162 Bonus Plan from Great-West Financial provides tax-advantaged retirement income through an individual variable universal life policy. This plan can be used as an after-tax nonqualified savings tool for business owners or can be offered as an employee benefit where the employer may pay all or part of the premium.

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Executive benefits

The Executive benefits team is a dedicated staff of professionals with an average of over 10 years of experience in the life insurance and executive benefits business. We have created a specialized line of products to meet the personal and professional goals of high-net-worth executives. Our solutions include bank, corporate and retirement markets, including the sale and in-house servicing of universal life and variable universal life policies that offer tax-efficient asset accumulation, asset management and distribution strategies.

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Great-West One-Year Term Life Insurance

One-year term life insurance for individuals with a short term death benefit need.

Term life insurance policies J490 and appropriate state variations are issued by GWL&A. GWL&A is not licensed to do business in New York. In New York, term life insurance policies J490-ny-rev are issued by GWL&A of NY. Policies may not be available in all states. Certain restrictions apply.