Latest Articles

Assurant Employee Benefits Proactively Extends Dependent Dental Coverage

[ 2010-06-24]

Assurant Employee Benefits, a leading carrier of life, disability and dental group employee benefits, today announces it is proactively extending dental coverage for adult children of an insured parent up to age 26. Taking effect July 1, 2010, this extension helps prevent potential gaps in coverage, and provides consistency with health plan provisions under the Patient Protection and Affordable Care Act. "We continue to strive to make insurance simple to understand and administer," said John Roberts, Assurant Employee Benefits president and chief executive officer. "Even though the government recently stated that stand alone dental plans are not included under this Act, we believe this proactive measure will simplify things for our customers by aligning our practices with those of many health plans." http:/ / www.prnewswire.com/ news-releases/ assurant-employee-benefits-proactively-extends-dependent-dental-coverage-97063854.html

......................................................................................................................................................................................................................................................................................

The Hartford’s New Underwriting Process is Expected to Cut the Cost of Life Insurance for 25% of New Policyholders

[ 2010-06-08]

While the cost of term life insurance is creeping up, the cost of purchasing a permanent life insurance policy from The Hartford is expected to fall this year for at least 25 percent of its new policyholders. That’s because The Hartford has developed a new, proprietary underwriting process that substantially improves the company’s ability to assess an individual’s current health and mortality risk. The Hartford’s chief medical strategist, Dr. Robert Pokorski, estimates that more than half of new policyholders will now qualify for one of the company’s two lower-cost “preferred” classifications and that they could save hundreds of dollars on their annual premium compared to the “standard” rate. For example, a 55-year-old male assessed as a preferred risk would save $1,286 on a $500,000 universal life policy. Dr. Pokorski said the new underwriting process gives The Hartford a competitive advantage by taking a more holistic approach to assessing risk that gives individuals credit for a much wider array of variables. For example, someone being treated for high blood pressure or cholesterol would have been automatically disqualified for the most preferred classification under the old process. That is no longer the case under the new system, as long as they have other factors weighing in their favor. http:/ / www.businesswire.com/ portal/ site/ home/ permalink/ ?ndmViewId=news_view& newsId=20100608006263& newsLang=en

Guardian Offers Enhanced Disability Insurance Coverage for New York Small Businesses

[ 2010-07-01]

The Guardian Life Insurance Company of America (Guardian), one of the largest mutual life insurers and a leading provider of employee benefits, today announced that it will offer enhanced New York disability insurance coverage to businesses with less than 50 employees. Small businesses with employees in New York will now have more options to provide enriched state-mandated disability insurance benefits to their employees who are disabled by an off-the-job injury or illness. "The financial impact of disability can be profound for the employee as well as the employer. Many small business owners are not aware of the devastating effects disability can have on productivity and the overall health of their business," says Barry Petruzzi, 2nd Vice President, Group Life & Disability. "Guardian's enhanced coverage will enable small businesses with employees in New York to provide a greater level of short-term disability income replacement at a reasonable cost," Petruzzi adds. "As a disability market leader, Guardian offers one of the most flexible product platforms for both large and small businesses backed by expert and reliable claims service both employers and employees can appreciate." Guardian is one of only a few major insurance carriers that offer enhanced New York State Disability Law (DBL) benefit coverage to groups with fewer than 50 employees. Guardian's disability coverage provides a maximum weekly benefit of $700 for up to 26 weeks for companies with less than 50 employees (maximum weekly benefit of $500 for up to 26 weeks for companies with 2 to 9 employees). For businesses with greater than 50 employees, the enhanced coverage provides up to $750 per week for up to 52 weeks. New York-based small businesses, as well as companies with employees located in the State, will benefit from this enhanced coverage. http:/ / www.prnewswire.com/ news-releases/ guardian-offers-enhanced-disability-insurance-coverage-for-new-york-small-businesses-97582924.html

Protective Life and West Coast Life Now Offer Guaranteed Income Stream Death Benefit on Universal Life Products

[ 2010-08-09]

Protective Life Insurance Company and West Coast Life Insurance Company continue their tradition of product innovation with the release of the Income Provider Option for their universal life insurance products. The Income Provider Option is an optional, no cost endorsement, that provides a guaranteed income stream death benefit to designated beneficiaries. The Income Provider Option allows policy owners choices in selecting the amount, duration and frequency of the guaranteed income payments. There is also an option to include an initial lump sum in order to help meet immediate needs such as a mortgage, medical bills, tuition, and final expenses. Income stream payments may be made for a period of 1 to 30 years, either monthly, annually or on a specific annually-recurring day such as a birthday, holiday or anniversary. http:/ / www.marketwatch.com/ story/ protective-life-and-west-coast-life-now-offer-guaranteed-income-stream-death-benefit-on-universal-life-products-2010-08-09?reflink=MW_news_stmp

Hancock Enhances Suite of Lifecycle Funds

[ 2010-08-24]

John Hancock Retirement Plan Services announced it will add two suites of lifecycle funds. The Boston company said Tuesday it is introducing new Retirement Choices target-date portfolios, which are designed to take participants “to” retirement and accommodate the participant who wishes to select another investment strategy at the time of retirement. The portfolio consists of index funds and the design features a lower amount of equities near retirement. The company said in a press release that the new funds will give managers and investors a wider array of asset allocation options to match their individual 401(k) needs. Hancock introduced its first family of lifecycle funds in 2006, which has since been renamed the Retirement Living Lifecycle Portfolios. These funds, which are designed to allow investors to stay in the same portfolio throughout retirement, offer higher exposure to equities. http:/ / www.financial-planning.com/ news/ hancock-lifecycle-funds-2668440-1.html

Trend Insights from MetLife’s Enhanced Benefits Benchmarking Tool Drive Strategic Benefits Decisions

[ 2010-08-25]

MetLife, a leading provider of employee benefits, announced today the availability of its enhanced Web-based Benefits Benchmarking Tool, designed to help employers and brokers deliver strategic benefits decisions and recommendations. Using the Tool can provide new perspectives on benefits practices among competitors and can help align an employer’s benefits offerings, strategies and communications with employee expectations to maximize the value of a group benefits program. Through customized data searches, the tool allows users to compare and contrast benefits offerings, perceptions and priorities along more than 90 dimensions such as company size, industry, region, and employee generation and household income, among others. The complimentary tool is available at metlife.com/benefitsbenchmark. “Benefits decisions are about more than simply cost. A number of factors come into play that, when carefully architected, can transform a benefits program into a long-term strategy for meeting a company’s core business objectives. Understanding benefits trends across various demographics positions employers and brokers to recognize the benefits expectations of a specific employee population, and measure an employer’s program against those of competitors. They are better positioned to deliver competitive employee benefits that are highly valued, which can help drive benefits satisfaction, job satisfaction and employee loyalty,” said Anthony J. Nugent, executive vice president, Employee Benefits Sales, MetLife. http:/ / www.businesswire.com/ news/ home/ 20100825005268/ en/ Trend-Insights-MetLife%E2%80%99s-Enhanced-Benefits-Benchmarking-Tool

Humana Advances Its Mobile Experience for Members

[ 2010-08-25]

Humana Inc. announced today new features and applications that expand the mobile experience, including a doctor and hospital search tool, claims summary, text messaging, and health-related games. Humana members can instantly receive information from the company via text messages and access a list of in-network health care providers on most mobile phones. The health-care-provider search tool helps members and non-members find doctor and hospital information right from their mobile phone, and can even guide them there using the phone’s existing GPS and location awareness. Members can instantly access their claims history and review current claims status. Members can also sign up for a text-messaging service that will allow them to track their spending-account balances, transactions and qualifying expenses. This service will also send health and wellness alerts to members, such as flu-shot reminders. These new free offerings further enhance the mobile capabilities for Humana members and continue to move Humana ahead in the mobile space. http:/ / www.streetinsider.com/ Press+Releases/ Humana+Advances+Its+Mobile+Experience+for+Members/ 5922855.html

ING Guides Customers Through Financial Life Stages in Next Phase of Marketing Campaign

[ 2010-08-30]

ING rolls out a new television commercial this month titled 'Life in Numbers.' This latest commercial represents the next phase of ING's award-winning marketing campaign focused on motivating consumers to prepare for retirement and their financial future. It also coincides with the company's newly-redesigned public website. The campaign, which first launched in 2008, underscores the importance of identifying the amount of money a person needs to retire the way they want while protecting loved ones. With this estimate in hand, an individual can take the next step towards more comprehensive financial planning. This includes working with a trusted professional and factoring in such things as employer savings plans, life insurance and retirement income needs. Past commercials have featured people carrying bright orange retirement numbers as they go about their daily lives. An interactive web tool, www.INGYourNumber.com, enables consumers to calculate their number. In 2009, the advertising evolved to reflect the volatile market conditions and emphasized the importance of protecting that number. This past February, ING unveiled another spot called 'Gazillion,' which communicated the importance of proactive planning and using your number as a strategy to prepare for future goals. http:/ / www.prnewswire.com/ news-releases/ ing-guides-customers-through-financial-life-stages-in-next-phase-of-marketing-campaign-101799288.html