Voluntary Group Lines

Apr 4, 2008

  1. somarco
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    somarco GA Medicare Expert

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    Looking for small group (2 - 50) products that can be offered on a voluntary basis.

    No required employer contribution. If you know (or can link to) participation rules, brochures, etc. would appreciate it.

    I am aware of a few carriers offering dental. Looking for others as well as

    STD

    LTD

    Vision

    Life
     
    somarco, Apr 4, 2008
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  2. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    bv - no prepaid legal? Que pasa?
     
  3. Sam
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    Sam Founder Administrator

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    Met, AIG, Reliance, Companion, and Guardian all have voluntary plans for other ancillary benefits. (I think Principal might as well) I don't know about a group of two, some carriers require 5 or 10 depending on the product.

    Participation rates will also vary from 15% on up.

    Companion Life - An Overview: An Overview
    Employee Benefits - Dental, Medical, Life and Vision
    Reliance Standard: Products:Services
    Employee Benefit Plans : PRODUCTS - American General Life and Accident Insurance Company

    Of course most worksite providers also offer these, such as Aflac, Colonial (No dental or vision), Transamerica, Combined etc...
     
    Sam, Apr 4, 2008
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  4. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    On a more serious note, I've heard the one Allstate bought up in Jax, American Heritage Life (?) does a good job in this market.
     
  5. somarco
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    somarco GA Medicare Expert

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    AHL/Allstate is worksite.

    I really don't want to fool with that. Just looking for something simple (and inexpensive) to introduce to small employers who do not provide ANY benefits. Offering an inexpensive life, dental, STD plan for a few bucks a month is a start.

    Especially if I can convince the employer to throw in $20 or so toward the cost.
     
    somarco, Apr 4, 2008
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  6. mcleanbr
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    mcleanbr Super Genius

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    How about Brokers National. I use their dental, vision, and disability.

    BNLAC
     
    mcleanbr, Apr 20, 2008
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  7. PL & Associates
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    PL & Associates New Member

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    Aflac makes the most sense, somarco - and not just because I work with them (OK, maybe that's why). However, Aflac IS the recognized leader in voluntary workplace benefits, with 400,000 payroll accounts nationwide. The most popular plans are available for about $4.50/week (paid for by the employee), and with a free set-up and maintain of a Section 125 Plan, ends up being a tax saver for both employer and employee.

    PL
     
  8. Delta76
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    Delta76 Guru

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    For STD, I really like Illinois Mutuals product for under 10 employees on a voluntary basis. Guaranteed issue when initially set up or within 30 days for new hires, although there is a 12 month pre-existing waiting period if that's a concern. It allows people to get coverage that wouldn't otherwise through an underwritten program. The requirements are three eligible employees with at least two signing up.
     
    Delta76, Apr 24, 2008
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  9. Delta76
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    Aflac makes the most sense

    For the smaller groups, I like what AFLAC has to offer if you want to be able to bring in multiple products on the same platform. Not too many small employers get excited about writing checks to each carrier for different product lines. I also like Colonial for this situation.

    maintain of a Section 125 Plan

    P&L, correct me if I'm wrong, because I would like to know. My understanding was that AFLAC will draft the document for free, but they don't maintain it after it's initiated. Also, I assume the employer is on their own to administer it if there is anything beyond a POP plan?
     
    Delta76, Apr 24, 2008
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  10. bobson
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    Okay, what is the difference between worksite and voluntary?
     
    bobson, Apr 25, 2008
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