EXECUTIVE HEALTH SAVINGS PLAN

Geraci Financial Group can help you set up an Executive Health Savings Plan to allow your shareholder clients own Critical Illness insurance jointly with their company. EHSP will pay their company a tax free benefit if they become critically ill. And, if they remain in good health and don't submit a claim before the plan matures, EHSP will pay them a benefit.

In the event of critical illness:

the company receives a tax-free benefit payment upon diagnosis of one of the critical illnesses or conditions covered in the policy.

The lump sum could be used to:   

• hire qualified replacement personnel.
• Pay an amount of money (e.g. a dividend) to the insured to cover the expense associated with a serious illness.
• Cover fixed business expenses.
• Limit the decrease in revenue or financial losses incurred as a result of temporary or extended absence from work

In the even of death:

The company can receive a lump sum equal to the paid premiums (minimum 25% of the sum insured).

At Maturity (for example, at age 65)

If no claim has been made at maturity, the Health Benefit is paid to the shareholder, the Health Benefit is tax-free and can be as high as 100% of the paid premiums, that is premiums paid by the insured and those paid by the company

THE EXECUTIVE HEALTH SAVINGS PLAN

• a unique, tax effective way to provide important critical illness coverage
• utilizes corporate dollars
• creates continuity for the business and helps provide peace of mind for you, your family and your business
  

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