Management Consulting
Aon
Full Credential Description
In recent years, law firms have faced significant challenges related to the rising K-1 income for partners, which has outpaced the growth of their benefit programs. This discrepancy has led to concerns about partners and similarly compensated executives becoming underinsured, particularly as life insurance and long-term disability (LTD) benefits are closely tied to partner income. Recognizing this issue, Aons executive benefits practice has tailored solutions specifically for law firms to address these unique needs. Aons approach includes conducting diagnostic reviews of existing life and LTD programs and performing gap analyses for benefits offerings aimed at partners, executive officers, and key employees. The firm provides access to market-leading benefits, such as comprehensive long-term disability programs, supplemental life insurance, and partner buy-out programs. Additionally, Aon assists law firms in developing a comprehensive benefits strategy that encompasses benefit plan design consulting, enrollment services, and ongoing administration. As a result of these tailored solutions, law firms can ensure that their benefits offerings remain competitive and aligned with the evolving compensation landscape. This proactive management helps protect partners and key employees from the risks associated with inadequate insurance coverage, ultimately enhancing the overall financial security and satisfaction of the firm's leadership.