Qualified Life
AIB's Qualified Life services works with select carriers that permit policy ownership to be a Qualified Plan (401(k) or Defined Benefit Plan)
Qualified Term Design & Benefits
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The typical employee will pay for term life insurance with after tax dollars.
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The gross expense will be significantly higher as compared to the Qualified option.
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Another form of savings will be a result of the Unisex rating, as opposed to the gender (male or female) classification of traditional term insurance.
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The combined savings can be 35 to 45% of traditional term insurance (when no employer match).
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Most 401(k) plans offer a company match, this will also create an additional savings for the employee.
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AIB will supply the PS 58 or Annual Renewable Term rates per year. This amount will produce taxable income.
The example below will provide the net expense:
