Boston - John Hancock announced a new turnkey marketing program called Key Employee Excess Enhancement Plan (KEEEP) to help producers sell deferred compensation cases and maximize sales in the business market. The program enables producers to present, sell, implement, service and administer a deferred compensation plan, including business owner and employee brochures on how the plans work and their benefits, as well as a sample client presentation. The package also contains executable documents needed to implement the plan that are ready for sign-off by the plan sponsor's legal counsel, and a producer guide offering a comprehensive program overview.
A non-qualified deferred compensation plan that is informally funded with life insurance, John Hancock's KEEEP includes website assistance with PDF files ready for download, cost-effective, web- based third-party plan administration and support and assistance from an the organization's home office. In the near future, the company also plans to introduce a retirement income calculator with a Social Security link. The calculator will project 401(k) and social security income as a percent of final salary and enable a producer to show a key employee their retirement income shortfall. The calculator will automatically determine how much money he/she should be deferring into the KEEEP program. John Hancock is a unit of Manulife Financial Corporation, a Canadian-based financial services group that serves customers in 19 countries and territories worldwide.
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