Two by Four Coverage Solutions

Transcription

1 Two by Four Coverage Solutions Guaranteed Issue Underwriting Offer As a Broker Partner with As a Broker Partner with Colonial Life, you can offer Colonial Life you can offer guaranteed issue on select guaranteed issue on select group and individual products group and individual products for accounts with fewer than for accounts with more than 100 eligible employees. 100 eligible employees. Your clients choose the coverage Help your clients build the benefit offering that s right for their employees. Health questions may be asked for some individual products; however, coverage will be guaranteed issue if minimum participation requirements are met. Choose two to four qualifying voluntary plans from our full product portfolio: Accident 1.0 offers multiple coverage levels to help with expenses related to covered accidents. Also offers an optional sickness hospital confinement rider. Individual Short-Term Disability allows you to tailor short-term disability plan options and provide on/off-job or off-job only accident and sickness coverage. Plans provide benefit amounts up to $4,000 per month, up to 60% of income for benefit period choices up to 12 months. Higher monthly benefit amounts are available with additional health underwriting. Critical Illness 1.0 pays a lump-sum benefit upon diagnosis of a covered critical illness. A plan option with cancer benefits is also available. For enrollments through March 2017, guaranteed-issue face amount of up to $15,000 is available. For enrollments beginning April 2017, guaranteed-issue face amount of up to $20,000 is available. Whole Life 1000 provides guaranteed level premiums, guaranteed cash value accumulation and a guaranteed death benefit. Coverage is only available for employees. Spouse and eligible dependent child coverage is available with term riders. For 5-24 lives: Guaranteed issue is available for premium amounts up to $6 per week for face amounts of up to $25,000. For lives: Guaranteed issue is available for premium amounts up to $12 per week for face amounts of up to $50,000. Long-Term Care Benefit Rider: Employers can also choose to enhance coverage for employees by adding the long-term care benefit rider to Whole Life 1000 on a guaranteed-issue basis during the initial enrollment, with all employees required to participate. For your clients with fewer than 100 employees

2 It s easy to help your clients build a coverage package that can help their employees be better prepared for life s unexpected events. Talk with your benefits representative to learn more. Account criteria An account must offer a minimum of two, but no more than four, of the Colonial Life & Accident Insurance Company products listed on this flier during the initial enrollment. Enrollments must take place between Jan. 1 and Dec. 31, New accounts with 5-99 employees are eligible for this program. Registration with a risk manager is not required. Employees must enroll through 1-to-1 benefits counseling sessions, via the Harmony enrollment system. Seventy-five percent (75%) Percentage of People Seen (POPS) is expected. Replacement of inforce coverage must be reviewed by the home office prior to committing to Credit for Time Insured availability. There must be a minimum of 50 eligible employees for consideration of Credit for Time Insured on Individual Short-Term Disability. No product substitutions or additional products are allowed (if these products are not approved in your state, talk with your benefits representative or a risk manager about possible options). A Memorandum of Understanding (MOU) is not required. Available upon request. There must be a defined enrollment period of 30 days or less. Special markets and prohibited accounts are excluded from this offer. See your benefits representative for details. All products require the greater of three enrolled lives or 10% participation. Health questions may be asked for some individual products; however, coverage will be guaranteed issue if minimum participation requirements are met [post enrollment guaranteed issue (PEGI)]. Underwriting will monitor this offer with the expectation that each product s standard participation requirements will be met in the future. 1-to-1 enrollments are required, as higher POPS leads to higher participation. Future program availability is contingent upon following the guidelines and expectations included on this flier. Individual Medical Bridge SM, Medical Bridge 3000 SM, Cancer Assist, Universal Life 1000, Dental, Gunshot Wound and Term Life 1000 may be offered with their standard guidelines as one of the products under the Two by Four offer. ColonialLife.com Only actual policies can provide detailed information. Products have exclusions and limitations that may affect benefits payable. Coverage may not be available in all states; product benefits vary by state. Not available in New York. Underwritten by Colonial Life & Accident Insurance Company, Columbia, SC 2016 Colonial Life & Accident Insurance Company. All rights reserved. Colonial Life is a registered trademark and marketing brand of Colonial Life & Accident Insurance Company

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4 Who we are In business for over 77 years Consistently strong industry ratings and long-term profitable growth More than $1.5 billion in in-force premium Serve more than 85,000 companies and organizations Provide coverage for more than 3.5 million policyholders and dependents Recognized as the best at working with brokers for eight consecutive years 1 Our value proposition SIMPLE MODERN PERSONAL 60 years experience in public sector and 10 percent market share, excluding federal government 1 Benefits selling readers choice awards, Unless noted statistics are based on Colonial Life Internal Data, 2015.

5 Accolades 41 Benefits Selling readers choice awards since 2006 Best in consumer driven health care product Best in service Best in innovation Best in enrollment Best prepared for health care reform Best in technology Easiest company to work with Benefits selling readers choice awards,

6 Simple solutions A single source for benefits communication and enrollment Group and individual supplemental insurance products Cost savings solutions Enrollment, administration and technology partnerships

7 We make it simple ENROLLMENT PROVIDER CARRIER $4 billion Enrolled Annually $10 to $1 Core to Colonial Enrolled 25,000 Core Enrollments Colonial life internal data, 2015

8 Our enrollment promise We educate and enroll employees in their benefits, all year round, wherever they are. IN-PERSON ON THE PHONE ONLINE

9 Enrollment options that fit your needs Need a system? No problem. Have a system? We ll connect. ALL BENEFITS YEAR ROUND ENROLLMENT AND COMMUNICATIONS SECURE DATA REPORTING

10 Personal qualified programs AD&D $5,000 coverage For new accounts with employees and 50% POPS Identity theft protection Provides identity monitoring and help recovering from identity theft For new accounts with employees and 50% POPS Flu shots For new accounts with more than 50 employees and 75% POPS Funded flex program Public sector/charitable organizations only Flexible spending account fees for qualified new accounts with more than 75 employees and 75% POPS ACA reporting Assistance in providing ACA Reporting for new accounts with more than 50 employees and 75% POPS Marketing allowance For premier accounts with more than 500 benefit eligible employees and working conditions Offered at no cost when: Two Colonial Life employee paid products are offered AND 50-75% of benefit eligible employees are seen by Colonial Life benefit counselor POPs: percentage of people seen Terms and availability of these programs are subject to change.

11 Personal complimentary programs Financial education provided by KOFE, online and face-to-face coaching and instruction Wellness discounts provided by WellCard, medical, dental and prescription discounts, telemedicine and medical bill consultation Premium-only plans provided by AmeriFlex, Section 125/Cafeteria plan administration, which offers certain products on a pre-tax basis for accounts with at least $1,800 in-force Offered at no cost: No minimum product requirement No Percentage of People seen (POPS) requirement Guaranteed issue provided by Colonial Life, guaranteed issue on certain voluntary benefit products Online HR support provided by HRAnswersNow, access to human resources knowledge, sample polices and expert advice on employment issues Terms and availability of these programs are subject to change.

12 Public sector expertise Market expertise 60 years experience 41 state governments 3,000 educational entities 5,000 local governments Cost saving solutions Dependent verification Tax savings Cost sharing Wellness communication Strategic partnerships Thought leadership Best practices Local events Dedicated home office team Colonial Life internal data, 2015

13 Public sector strategic partnerships National Joint Powers Alliance awarded us a contract that member entities can leverage to fulfill bidding requirements and take advantage of cooperative purchasing opportunities. Government Finance Officers Association partners with us to conduct studies proving the effectiveness of our cost management solutions. National League of Cities named us a corporate partner to educate members on voluntary benefits and cost-savings solutions. International Public Management Association for Human Resources endorsed us as their preferred voluntary benefits and solutions provider. Our National Institute of Government Purchasing partnership provides members with voluntary benefit resources for bid-related documents, training programs and procurement seminars. Association of School Business Officials partners with us on events to educate members on voluntary benefits and cost-savings solutions.

14 Product portfolio Offset medical costs Can help fill gaps in coverage No cost to you, employer paid options available Wellness benefits Many can be paid pre-tax Rate stability 1 Easy claim filing Simplified underwriting and guarantee issue available Next day payments 2 Group and individual on same platform Portable at original issue date 1 Group products may adjust at renewal 2 Based on Colonial Life internal data Most claims are processed and paid within one business day

15 Product portfolio

16 Voluntary benefits are just the beginning

17 ColonialLife.com ADR Insurance products are underwritten by Colonial Life & Accident Insurance Company Colonial Life & Accident Insurance Company. All rights reserved. Colonial Life is a registered trademark and marketing brand of Colonial Life & Accident Insurance Company.