Salary Continuation Plan

Salary Continuation Plan (SCP)

A Salary Continuation Plan is a method of grouping individual disability insurance policies, where the premium is paid by the company and can be considered a tax-deductible business expense.

Benefits To The Employer

• Premium contributions paid by the corporation can be tax-deductible
• A stable and predictable business expense
• May help attract and retain key employees
• Help avoid the cost of continuing salary payments for a disabled employee
• A group premium reduction may be available if two more employees apply together

Benefits To Employee

• Quality individual non-cancelable disability coverage
• No premium payment while under the Salary Continuation Plan
• Portable coverage

Contact Trent today to learn more about salary continuation plans and his approach as an independent financial professional.