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ITG Worldwide Home > Local Nationals
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Local National Benefits
Local benefit solutions are tailored for small and medium sized global companies. |
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Local Nationals
Expanding successfully overseas requires planning and knowledge about what your new employees expect and what your company’s legal obligations are for local benefits. The problem most small to medium sized companies face is finding international employee benefit solutions for small populations of local employees, as well as managing those benefits from the U.S. and matching benefits to local market practices.
ITG Worldwide eliminates these problems by partnering with global insurance companies and networks that can provide compliant, local benefit solutions. It's important that local nationals are provided with benefits insured by a locally licensed insurer for several reasons, to ensure that:
- Benefit contracts are compliant with local laws and insurance regulations.
- Employees have coverage provided by an insurer with whom they are familiar.
- Benefits are provided at a level commensurate with local market practice.
- Claim payment is in-country, convenient for employees and legally compliant.
- Premium and claim payments receive tax-favored treatment.
- The insurer is properly registered and admitted in that local country.
Benefits offered in each country can vary based on what is typical in the local market, tax laws, the local social security system, and employee expectations. Local benefits can include:
- Life Insurance
- AD&D
- Disability - Short Term, Long Term and Lump Sum
- Health – Medical, Dental and Vision
- Pension – Defined Benefit, Defined Contribution, Cash Balance, Endowment
Next Steps
If your organization is expanding overseas or requires an evaluation of your current local national benefit plan(s), contact ITG Worldwide. Please complete the Request for Quote (RFQ) and Census forms located under the Request for Quote area to the left.
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