What to consider when looking at universal life insurance

Posted on April 17, 2014 by krobbins

April 17, 2014
By Tammy Fisher, Director of Product Management for Life and Disability

tourism binocularsPeople buy life insurance for the security of knowing that they’re financially protecting themselves and their families. They want to know that, if something bad happens, the years and years spent paying for their life insurance will result in protection for their loved ones. But not everyone is an insurance expert and sometimes a lack of understanding or information leads to unfortunate insurance decisions and mishaps. One of the most common areas where people get themselves into trouble is not making sure their universal life insurance policy lasts to maturity. Continue reading →

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Consumers overestimate the cost of life insurance

Posted on April 11, 2014 by krobbins

April 11, 2014

retirement Coin box pink pig and handMore and more people are beginning to realize the importance of protecting their futures with life insurance and there is no demographic where this is more conspicuous than with Millennials (age 25-34). But, while interest in life insurance products seems to be on the rise, there is still a gap in understanding the cost of insurance. A new LIMRA study dug in to figure out why so many young Americans are more anxious about their financial future than older Americans.

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South Dakota – Unfair Claim Settlement Practices

Posted on April 9, 2014 by krobbins

April 9, 2014

payslipThe South Dakota Department of Insurance has issued a procedural update providing guidance and clarification regarding unfair claim settlement practices.

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National Employee Benefits Day – Protecting Your Most Valuable Asset

Posted on April 2, 2014 by krobbins

April 2, 2014
By Dan Johnson, Vice President, Sales and Marketing

coupleThese days it seems like there is an insurance product for just about everything. You can insure your pets, insure against floods and earthquakes and there is even insurance for alien abductions. While some of these more exotic products aren’t exactly the norm, there is a major item in need of protection which can be overlooked: a person’s income.

Income is an individual’s most valuable asset. Income funds retirement, it pays the mortgage or rent and it provides for a person and his or her family’s daily needs. Whether during retirement or during working years, it’s important to protect income in multiple different ways. And, seeing as today is National Employee Benefits Day, it’s a great time to look at how voluntary benefits fit into the picture.

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Worksite enrollments in the healthcare reform era

Posted on March 20, 2014 by krobbins

March 20, 2014
By Dan Johnson, Vice President, Sales and Marketing

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The United States Department of Labor has made it their goal to audit all employee benefit plans by the end of 2015. While, many in the industry think it may be too large of a task for them to accomplish, it’s still important for employers to be ready, especially with all the changes due to healthcare reform. Non-compliance with Department of Labor standards means fines, and fines mean unhappy employers.

Employers need to be sure to take all the necessary steps to be compliant and the one-on-one enrollment process used for voluntary benefits can help. At the employee’s one-on-one enrolment session a personalized message can be presented on a range of subjects including healthcare reform compliance.

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One way to boost voluntary enrollment

Posted on March 6, 2014 by krobbins

122424121March 6, 2014

There aren’t many brokers who would say no to the opportunity to increase enrollment. With that said, one-on-one enrollments can provide a straightforward and simple way to boost participation in voluntary products. Typically, 60 percent of employees buy some type of coverage though a one-on-one enrollment experience, compared with less than 50 percent from standard enrollment.1 An article from Benefitspro takes a look at why this tends to be the case.

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