FOCUS 10 Life® Insurance
FOCUS 10 Life® insurance offers a simple, unique way to provide a valuable fringe benefit for your key employees. It also helps protect your business against the disruption caused by the death of an owner or key employee.
An innovative approach
FOCUS 10 Life® can provide a flexible and innovative way to meet several business insurance needs.
Address multiple needs
FOCUS 10 Life® insurance is employer-paid life insurance that can help you retain critical employees and protect the future of your business. For example, a single plan can simultaneously provide buy-sell funding for two partners, key person coverage on 10 managers and a fringe benefit for the remaining eligible employees.1
You may be able to meet some of these needs using our individual life insurance products.
What are the key benefits?
Focus 10 Life® is for groups of 20 or more white collar employees. In addition, it:
- Can be owned by the employer, the employee or a third party.
- Provides up to $1.5 million or more of coverage with no physical exam.
- Offers guaranteed2 level premiums for 10 years.
- Requires only one “actively at work” question.
- Can be issued up to age 70.
How is it different from group life insurance?
Group life insurance is a benefit for all employees. Focus 10 Life® doesn’t replace group life insurance. It is an additional benefit for key employees. Compared to traditional group life insurance, FOCUS 10 Life®:
- Offers longer rate guarantees.
- Provides higher policy amounts.
- Does not automatically reduce benefits at older ages.
- Allows the employee to continue the policy upon retirement or termination with the same premium.
- Can be converted to permanent insurance with no underwriting.
How do I begin?
FOCUS 10 Life® is easy to implement and administer. The online application takes minutes to complete. If you’d like to learn more, tell us a little more about your needs and we’ll be in touch.
1 Under Internal Revenue Code section 101(j), for the death benefit of a life insurance policy to be excluded from the business’ income, the employee must be given notice of the policy and consent to be insured by the employer. This notice and consent is in addition to any notice provided on the life insurance application and must be signed by the employee prior to issuance of the policy. Also, see IRS Form 8925 Report of Employer-Owned Life Insurance Contracts.
2 Guarantees are based on the claims paying ability of the issuing company.
FOCUS 10 Life® (form 3021) is issued by Ameritas Life Insurance Corp. in approved states. FOCUS 10 Life® (form 5021) is issued by Ameritas Life Insurance Corp. of New York. Policy and riders may vary and may not be available in all states.
Executive Life Solutions, Inc. is an independent third-party administrator and is not affiliated with Ameritas Life Insurance Corp. or Ameritas Life Insurance Corp. of New York.
FOCUS 10 Life® is a registered service mark of Executive Life Solutions, Inc. and has been licensed for use by Ameritas Life Insurance Corp. and Ameritas Life Insurance Corp. of New York.