LIFE INSURANCE VOLUNTARY BENEFITS
2020 VOLUNTARY BENEFITS SURVEY Compiled by THORA MADDEN
As part of our series of carrier surveys, Cal Broker reached out to some of the major players in voluntary benefits. Of course, they were happy to fill us in on what’s happening in their worlds.
A
s part of our series of carrier surveys, Cal Broker reached out to some of the major players in voluntary benefits. Of course, they were happy to fill us in on what’s happening in their worlds. Read on for everything you need to know—and more—about these important benefits. 1. List the voluntary/employee-paid benefits that you offer along with the minimum group size for each offering: Rich Williams, EVP and chief distribution officer at Aflac: Aflac’s supplemental insurance policies can complement any benefits package by offering an additional layer of financial protection if the unexpected happens. Aflac offers both group and individual products ranging from life and disability to hospital indemnity and critical illness. Additionally, Aflac’s supplemental coverage provides cash benefits paid directly to the insured, unless otherwise assigned, to help with the expenses health insurance may not cover. Aflac pays cash benefits quickly—often in as little as one business day*— so insureds can focus on recovery instead of their bills. Aflac offers the following individual coverage: • Accident (new product released in 2019) • Cancer/Specified Disease • Critical Care and Recovery • Aflac Dental Insurance— • Supplemental Plan • Hospital Confinement • Indemnity • Hospital Confinement Sickness • Indemnity • Hospital Intensive Care
36 | CALIFORNIA BROKER
• Life—Whole, Term and Juvenile (updated products released in 2019) • Lump Sum Critical Illness • Short-Term Disability • Aflac Vision Insurance—Supplemental Plan Aflac Group offers the following group coverage: • Accident • Worksite Disability • Aflac Dental Insurance—Group • Supplemental Plan • Critical Illness • Hospital Indemnity • Worksite Life—Whole and Term (new products released in 2019) In order for clients to establish an account, Aflac requests they complete and sign a Payroll Account Acknowledgement form and allow three separate W-2 employees to apply for at least one Aflac policy. To establish group billing, Aflac Group requires a minimum of 25 payers. Michael Payton, Vice President of Sales, California Choice: • Employer-sponsored Dental (2-199 Employees) • Voluntary Dental (10-199 Employees) • Employer-sponsored Vision (2-199 Employees) • Voluntary Vision (2-199 Employees) • Employer-sponsored Chiropractic/Acupuncture (2-199 Employees) • Voluntary Chiropractic/Acupuncture (2-199 Employees) • Employer-sponsored Life (2-199 Employees)
- CalBrokerMag.com -
JANUARY 2020
