Enrich your Benefit Plan Without Spending A Cent!
Looking for a way to make your benefit plan more appealing? Not sure how to add coverages in a diverse workplace that includes single people and employees with families, perhaps over a wide range of ages?
Why not include optional benefits in your program with premiums paid by the employee? It's an easy way to customize benefits for each individual in your company without adding to the employer's cost. All you do is deduct the monthly premium through your payroll and send it to the insurer with the premium for your core coverages.
Optional Group Life Insurance is the best known example of an optional product. Such coverage has been available for many years but is probably underutilized by employers.
It's an attractive product, offering employees (and their spouses) a low cost way to top up personal life insurance coverage. Optional plans typically offer a small amount of coverage for dependent children as well, if either parent becomes insured.
While employees can get life insurance coverage on their own, group products can be much less expensive and less hassle. The amount of medical evidence required - such as questionnaires, blood tests is typically less onerous than individual products.
Chambers Plan optional life coverage is also portable. That means the employee can keep the insurance even if he or she leaves your company. That's a great advantage to people who may not be healthy enough to apply for this kind of program under future circumstances.
Optional Life is a cost effective way to customize your group life benefit, opening a door for employees who need more coverage because of their unique circumstances. Why not include it in your group benefit program.
