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Author By Matt Schiff Posted on Categories Education, Health, Lifestyle

Life Saving Early Cancer Detection and Healthy Lifestyle Choices with Lindsay Hanson of John Hancock



Today we had Lindsay Hanson, Chief Marketing Officer, John Hancock & Global Head of Behavioral Insurance (Platinum Vitality Member), on to discuss how an insurance company is helping to change people's LONGEVITY with their Vitality Program. She discusses the features, its benefits, how it is saving clients money, and helping them detect cancer at the earliest stage. And by catching cancer at stage 1 or 2, survivability rates can be as high as 89%.





John Hancock's Vitality program is a wellness program that's included with all John Hancock life insurance policies. It's based on science and technology, and rewards healthy habits that focus on nutrition, physical fitness, and mental well-being. The program recognizes that small daily decisions can have a big impact on both physical and financial well-being.









There are two versions of the program, Vitality GO and Vitality PLUS, to choose from, depending on individual goals and interests. Participants can earn Vitality Points by logging healthy activities through the Vitality app or website, and these points add up to a Vitality Status. The higher the status, the greater the rewards. 

Rewards and discounts can include: 







  • Apple Watch Series 3 

  • Complimentary Fitbit device 

  • Wearable device discounts 

  • HealthyFood benefit 

  • Cruise rewards 

  • Half-price hotel stays 

  • Free health check 

  • Healthy gear discounts

  • Shopping and entertainment discounts 


With Vitality PLUS, participants can save up to 25% on their life insurance premium. The program also includes a Healthy Engagement rider that determines the total premium based on the insured's achieved status and as part of the program, the Grail Test by Galleri, is provided at NO COST (a $995 value).




P.S. For clients who wishes to get the Grail Test at a discount, please email us at info@schiffbenefits.com with the headline "Grail Test" and we will send you a discount code.







Author By Matt Schiff Posted on Categories Business Succession, Employee Retention, Executive Benefits, Owner Benefits, Retirement

How much is your business worth?

Every business owner starts their business with the intent to "sell it" sometime in the future, make a lump sum, and walk away.  Most likely, if you are reading this, you're more than far enough along in your ownership journey that you are now asking yourself:

"How much is my business worth?".


At Schiff Executive Benefits (SEB), we use a business valuation program called RISR that can help you find out. If you use Quickbooks, an owner can share their last three years of tax related data electronically, seamlessly, and securely through a link that we will send you to your PRIVATE valuation. After uploading that data, and answering a few questions about the operation of the business (i.e. ownership, tax structure, client concentration, operational questions, etc.), RISR will generate a SNAPSHOT value for SEB to review with you, so that you can realize your DREAM value in the future.

Using the results from the report, you can:

  • Negotiate offers with potential buyers,

  • Discuss with management ways to improve profitability

  • Review potential business valuation risks, and

  • Align your people with the future growth of the company.


Here were some of the solutions that our clients decided upon after engaging SEB:

  • Sold to an outside party

  • Implemented an Installment (structured) sale to the employees/family member

  • Employee Stock Ownership Plans



    • Sell some or ALL of your stock

    • Retain Control of the company

    • Immediate Tax Savings for an S Corp

    • Provides Retention Strategy for ALL employees



  • Buy/Sell Planning Between Partners upon:

    • Death

    • Disability, or

    • Retirement



  • Tax Efficient Retention Strategies

    • Executive Bonus

    • Restricted Executive Bonus (REBA)

    • Supplemental Retirement Plan

    • Excess 401K Plans



  • For YOUR report specific to YOUR company, Complete the form below to request your link for your business valuation.


A FULL sample report can be downloaded here:  Schiff Auto report

Author By Matt Schiff Posted on Categories Business Succession, Corporate Owned Life Insurance, Deferred Compensation, Employee Retention, Executive Benefits, Owner Benefits

Designing the “Perfect Plan” – How does yours look?



In a PERFECT world, how would you design a "benefit" plan for you (the Business Owner), your key executives, and your family? Well, in this Episode, Matt goes through some design options available when starting a brand new plan.  In essence, you have a blank piece of paper that allows you to build it YOUR way.

Sit back grab your coffee, and listen to some options available to you depending on your role.

Author By Matt Schiff Posted on Categories Business Succession, Deferred Compensation, Education, Employee Retention, ESOP, Estate Planning, Executive Benefits, Owner Benefits, Retirement

ESOP – Employee Stock Ownership Plan – A way to Monetize your largest asset

https://youtu.be/VUsv8NaXsrc

Are you a business owner? Have you ever thought about selling your business?  How much is it worth? Do you have other shareholders, or family that own part of the business?

Well, in this, the Sixth episode of The Perfect Plan, Dan Zugell, my friend and colleague of 25 plus years goes into the wonder of an Employee Stock Ownership Plan (ESOP). In this qualified retirement plan solution for a business owner, you have a ready and willing buyer, that will buy your business, for a set dollar amount, at a set triggering event. If done correctly, you as the business owner can still run it, control it, and participate in the future growth of your company.

Dan goes into the benefits, tax advantages, and rules of how to design "the perfect" exit strategy for the closely held business owner. Take a few minutes and hear what he has to say, then contact us on how we can help you monetize your largest asset.

Ps. You can schedule a direct call with Dan at https://dantheesopman.com/ or with SEB at  Calendly - Matthew E Schiff

Author By Matt Schiff Posted on Categories Education, Estate Planning, Owner Benefits, Retirement

Wealth Management – Personal Finance and the Department of Labor with Jamie Hopkins

https://youtu.be/mXFv0Cp3zAo?si=STHkIxZZqru-m5L4

In this episode, the 5th Episode of the "The Perfect Plan", Jamie Hopkins Esq., LLM, CFP®, ChFC®, CLU®, RICP® CEO Bryn Mawr Capital Management, LLC joins us to discuss investments, wealth accumulation, the Department of Labor, and Retirement Planning.  Check out his insight into how to create your "Perfect Plan".

Author By Matt Schiff Posted on Categories Corporate Owned Life Insurance, Deferred Compensation, Employee Retention, Executive Benefits, Owner Benefits, Retirement, Uncategorized

Employee Retention in 2024

As a business owner, how do you keep your best people and properly plan for yourself and your executives?  Well, Bud Schiff, past President of Mutual of New York (MONY), past president of NYLEX Benefits, managing director of Alvarez and Marsal gives his insight of over 50 years in this podcast about employee retention strategies.

If you want to find a way to "retain" your best employees in a post no "non-compete" environment, listen up, and then give us a call. It's easier than you think, and it costs more to retrain a new hire, than it is to retain your best employee.



 

Author By Matt Schiff Posted on Categories Corporate Owned Life Insurance, Deferred Compensation, Education, Employee Retention, Estate Planning, Executive Benefits, Owner Benefits, Retirement, Trust Owned Life Insurance

Collaborative Practice Meeting – May 15th/16th

Are you an Attorney, Accountant, TPA, Trust Officer, Insurance Agent, Property and Casualty agent? If you work with Business Owners, and their families, then you want to be at this meeting where you will hear about how to COLLABERATE with other professionals who work with your client.

We will spend the day on Thursday, May 16th at the Fitler's Club in Philadelphia sharing a case study that is VERY relevant in today's world. How do you handle the intricacies of the family while bringing together all needed advisors to work seamlessly?

Well, we will have 20-25 attendees from different professions, coming together to discuss the challenges that they are facing with their clients in 2024. Come join us, and network with some of the best in their fields.

P.S. The night before, we have a Box at Citizens Bank Park for the game between the NY Mets and the Philadelphia Phillies (@6:40pm).

Sign up below to save your spot.

Author By Matt Schiff Posted on Categories Deferred Compensation, Executive Benefits, Income Maximization, Retirement

How to Retire Happy – Regardless of your Age

We are thrilled to have Tom Hegna, past Senior Vice President of New York Life's Annuity division on to discuss how to Retire Happy, regardless of your age.  In the Third Episode, Tom gives you insights into what you should do, when you should do it, and what PRODUCTS, you should have to retire HAPPY.

P.S. If you want to learn more for your specific situation, click on the form to the right to have your "Perfect Plan" designed based upon your goals.

https://youtu.be/jQ7xGYpVHp0?si=yOWXs1To9Ba6N8yy

#RetireHappy #PerfectPlan #Income #IncomeAnnuity #Annuties #LifetimeIncome

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