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Insurance Matters
Trk2 - Coggle Diagram
Insurance Matters
Retirement
- Sep Plans
- SIMPLE Plans
- Qualified Plans
SIMPLE Plans- Employee must have received at least $5,000 in compensation during any 2 years preceding the current calendar year and expected to make at least $5,000 during the current calendar year.
You can use less restrictive participation requirements than those listed, but not more restrictive ones.
Sep Plans- Employees must be a minimum of 21, worked for you for 3 of the past 5 years, and have received at least $600 in compensation in the past year.
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Qualified Plans- Plan must benefit at least the lesser of either: 40% of the employees or Two employees. If only one employee the plan must benefit that employee.
Insurance Professionals
- Brokers
- Agents
- Commercial
- Personal
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Commercial covers only businesses. Need to find the commercial company that covers your specific business needs.
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Business Insurances
- Workers Compensation
- Commercial Property
- Cyber
- Errors and Omissions
- Business Income
Workers Compensation Insurance covers lost wages and related medical costs for an employee that is hurt on the job.
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