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Section 79 plans are commonly known for the $50,000 free term life insurance they can provide for employees. Less commonly known is that Section 79 plans can also provide permanent life insurance. These plans are employee benefit plans established under Section 79 of the Internal Revenue Code. Section 79 plans are non-qualified plans but they are tax-deductible plans for the adopting employer. Rich & Rick will discuss the pro’s and con’s of this type of employee benefit. Click in to listen and learn!
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