U.S. Bank has partnered with many of the finest insurance companies to provide you with the coverage you need to protect your business' financial security. We offer a variety of business insurance programs to help attract and retain your quality employees.
Life Insurance Call 800-236-1771 to be directed to an Insurance Specialist
Life insurance can protect your business from the financial impact that follows the unexpected death or disability of you or one of your key employees. U.S. Bank offers a full line of high quality insurance products and services that can be tailored to your specific needs.
Worksite Benefits Programs Call 800-236-1771 to be directed to an Insurance Specialist
U.S. Bank provides benefits solutions to companies with more than 150 employees. We offer voluntary insurance benefits that fill many of the gaps not covered by most employers' primary insurance plans. Voluntary benefits are selected and paid for by employees, based on their individual needs. These benefits are designed to complement - not replace - the core benefits you already offer.
Our insurance plans include:
Disability Insurance - Disability insurance can protect employees' most valuable asset - their income. A disability policy provides income to offset the financial losses that result when employees are unable to work due to injury or illness. We offer a variety of short- and long-term individual and group disability plans, for coverage on and off the job.
Life Insurance. Employees can complete their life insurance coverage by adding an individual policy to an employer-provided plan. Term and universal life plans can help employees tailor their protection to meet their individual needs. Furthermore, these plans are "portable" - so employees can take their coverage with them if they change jobs or retire.
Special Risk Insurance. This insurance protects employees' assets from the often lengthy and expensive treatments associated with serious illnesses. Special Risk Insurance will help pay the direct and indirect costs of cancer and other serious health events, such as heart attacks and strokes.
Long Term Care Insurance. The average cost for a year's stay in a nursing home is $50,000 - and it can easily run twice that much in some large cities. Home health care and other forms of long-term care are also hugely expensive. To protect their financial independence - and to avoid burdening their families - many people choose to purchase long-term care insurance. Through payroll deduction, long-term care coverage can be obtained for the employee, spouse, parents and in-laws.
Executive Benefits Programs Call 800-236-1771 to be directed to an Insurance Specialist
Major tax reform legislation has diminished the appeal of offering qualified retirement plans to highly compensated employees. Specifically, the government sets limits on the amount the employee can save on a pre-tax basis and on the amount an employer can contribute. Most financial planners recommend that employees' annual retirement income should total 60 percent to 80 percent of their final year's salary. Qualified plan limitations prevent highly compensated employees from achieving these retirement goals. These limitations do not allow a highly compensated employee to defer the same percentage of salary as a general employee.
U.S. Bank's Executive Benefits Program can help overcome the effect of these restrictions. We provide plan design assistance, sample adoption agreements, cost-effective funding, professional administration and individual participant counseling.
Whether you have an existing plan that needs to be reviewed, or you want to explore a new plan, we can help. We will provide your highly compensated employees with one of the most contemporary benefits in executive planning.
Key Employee Indemnification Call 800-236-1771 to be directed to an Insurance Specialist
As a business owner, you know the value of your inventories, accounts receivables and the price of your business on the open market. You can protect these valuable assets with various types of business liability insurance. Yet, your most valuable asset, human capital, is likely to be under-insured or not insured at all.
Our Key Employee Indemnification program calculates the actual chances of death or disability striking your key managers. Using several weighted valuation formulas, we can show you the financial impact to your business when one of your key employees dies or becomes disabled before age 65.
In addition to the risk analysis and valuations, you will receive a review of any existing insurance policies. We will also provide recommendations for improvement, including a survey of the most cost-competitive policies and an illustration on how to turn your key-employee life insurance into a supplemental deferred compensation plan.
Employers are sensitive to the increasing costs of benefits and are seeking ways to expand employees benefits packages. U.S. Bancorp's Voluntary Benefits program offers business owners another avenue to provide competitive benefits to their employees allowing the business owner to attract, retain and reward high quality talent to their organization. Our program supplements to core benefits package and is paid for by employees. Designs are flexible and tailored to your needs. Plans can include coverage such as, disability, life, long term care and special risk (cancer) insurance.