New Program is Designed to Protect NQDC Benefits

June 26, 2009 ( - Corporate Compensation Plans Inc. (CCP) has introduced a new program to protect employees' nonqualified deferred compensation plan benefits.

A CCP announcement said the company has designed an integrated insurance plan with three components:

  • a special disability insurance plan that will continue contributions of up to $200,000 a year into employees’ nonqualified deferred compensation accounts when they become disabled;
  • a long-term care insurance plan that protects employees’ nonqualified plan assets and income against the high costs of long term health care. Premiums can be paid from corporate nonqualified plan contributions and the plan has a money back feature that refunds premiums if care is never needed; and
  • a component that will convert income and estate taxable deferred compensation survivorship benefits into income tax-free and estate tax-exempt life insurance.

More information is at .