New Plans, New Policies

Article Abstract:

Royal Life of America, in Hartford, Connecticut, has a payroll deduction program for associations of three employees of more. It offers permanent life, term life, and annuities, and can be underwritten on a simple or guarantee issue level. A table of purchasable insurance for twenty dollar monthly premiums is included. Nationwide Life has recently introduced Concept III, a universal life policy guaranteeing one/twenty-fifty interest on the initial one thousand dollars of unborrowed cash value, or on indebtedness. Beginning year expense leadings are three hundred dollars per policy, plus the other premium percentages. Issue ages and minimum policy sizes are detailed for this program. Tables for smoker and nonsmoker rates are featured also. Allstate's two universal life insurance policies UL 50 and UL 100 are detailed with respect to age qualifications and policy interest rates. UL 50 has a premium load of seven and a half per cent. UL 100 has no premium load, but has a small payment fee. Withdrawals of up to one-fifth of the cash value after one year can be made for a small fee. Other major insurers' new programs are highlighted.

Officials and employees, Insurance industry, Economic policy, Tax deductions, Payrolls

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Mental health plans help employees, reduce costs

Article Abstract:

Employers are beginning to realize it may be cost-effective to offer mental health benefits to employees. Studies have shown that about 10% of workers abuse alcohol or drugs, reducing their productivity by about 25%. Untreated depression in one employee can cost a company up to $30,000 per year. Mental health benefits can reduce medical care expenses and increase morale and productivity, but austerity measures in the early 1990s resulted in cutting many benefit plans. There are ways to set up plans with cost controls that save money in the long run.

Pension, health, and welfare funds, Specialty outpatient clinics, not elsewhere classified, Outpatient Mental Health and Substance Abuse Centers, Employee Benefits Management Svcs, Third Party Administration of Insurance and Pension Funds, Mental Health Care, Economic aspects, Column, Human resource management, Social policy, Mental health, Mental health services, Employee benefits management services, Mental health benefits

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A safe haven for nonqualified plans

Article Abstract:

Developing secure nonqualified executive retirement plans is a difficult proposition. Keeping such benefits inaccessible to creditors, while still conforming to requirements of the Employee Retirement Income Security Act, can be done through the establishment of a third-party trust. The trust will pay benefits to retirees if the company is unable to do so, but will reimburse the company for any benefits paid by the company. Nonqualified benefits have taken a 40% share of retirement pay in 1992, up from less than 10% in 1980.

Compensation and benefits, Executives, Executive compensation, Retirement benefits

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