Frequently Asked Questions for Benefit Managers

What is Beacon Benefit Consulting?

We are an Employee Benefit Practice dedicated to helping you, the employer, find a program that meets your needs and your budget. We can help you achieve your objectives by offering what you need, when you need it.

We will customize a plan for your company's unique circumstances with our flexible suite of products, from employee benefits to business continuation for any size business.

What sets Beacon Benefit Consulting apart from the rest?

Beacon Benefits Consulting is proud to be a United Benefit Advisors (UBA) member. Our membership provides us access to the shared knowledge of the nation's premier independent benefits firms, including best practices, industry trends, research data, regulatory guidance and customized technology designed specifically to support HR and benefits managers.

What insurance carriers do you represent?

Beacon Benefit Consulting works with most Florida licensed carriers.

What is the difference between a SIMPLE IRA and a 401(k)?

A SIMPLE-IRA is designed for companies that have 100 or fewer employees , individuals with self-employment, or non-profit organizations. Employees who have earned $5,000 during any two preceding years and are expected to earn at least $5,000 in the current year are eligible for the SIMPLE-IRA plan. A SIMPLE-IRA is both employer and employee funded. A 401(k) plan is available to business of all sizes. Employees must generally be 21 years of age with 1,000 hours of service for at least one year. The 401(k) plan is employee funded but employee contributions are optional.

What is the difference between term life insurance, variable life insurance and universal life insurance?

Term Life insurance is death protection for a "term" of one or more years. Death benefits are paid if you die within the period. Some policies are "renewable" for one or more additional terms even if your health has changed. Variable Life insurance offers the protection and advantages of life insurance AND investment performance and flexibility at the same time. Universal Life insurance gives you a wide range of choices for premium including you choosing the amount you want to pay. The amount of death protection may also be changed if your needs change.