EMPLOYEE BENEFIT PROGRAMS

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Voluntary Term Life Insurace -- To Age 120

Now, you can offer your Employees (up to age 70) and their family a unique Life Insurance Program

Level Premiums - Based on the insured's age. The premium will NEVER increase.
Level Death Benefits - Coverage NEVER decreases unless it is the insured's desire.
Fully Portable - Insured can take this coverage with them upon termination or retirement
Simple Application Process - No tests or examinations when the insured applies for coverage up to the Guarantee Issue limits

Groups With 5 to 99 Eligible Employee

Employees age 18-55 up to

$50,000 Guarantee Issue. Can apply for up to $150,000.
Spouse $
Employees age 56-70 up to $20,000 Guarantee Issue. Can apply for up to $150,000
Level Death Benefits - Coverage NEVER decreases unless it is the insured's desire.
Fully Portable - Insured can take this coverage with them upon termination or retirement
Simple Application Process - No tests or examinations when the insured applies for coverage up to the Guarantee Issue limits

Simple Application Process - No tests or examinations unless the insured applies for coverage in excess of the Guarantee Issue limits... then the insured will be required to provide Evidence of Insurability by completing a brief questionnaire to qualify for these additional limits.

Implementation Strategy

Do not accept the Renewal Offering for your Current Plan that will have large premium increase.

Renew with a New Plan that has larger deductible and out-of-pocket coinsurance limits...resulting in SIGNIFICANT premium savings

Then, use these new savings and choose a GAP plan. I recommend implementing a GAP plan that is "100% Employer Paid" to avoid individual underwriting that may be required with a "voluntary" plan. This way all insureds will be accepted by the carrier.

The impact of this solution is 2 fold:

Overall premiums are stabilized to a level very close to your current premium level.

Overall benefits are kept as close as possible to current levels