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Insurance plays a role in most people’s lives in one form or another. People take great care to protect assets such as their homes and their cars, but they often don’t do enough to protect their most valuable asset – their earning power.
According to a 2006 LIMRA study, 44 percent of all U.S. households either don’t own life insurance and believe they should, or own life insurance and believe they need more. Among those that already own some life insurance, 40 percent believe they don’t have enough.1
You can help your clients add a competitive, workplace-sponsored life insurance plan to help meet employee demand with Symetra’s WorkLife II Universal Life. WorkLife II is one of the most progressive voluntary UL products in the marketplace today, featuring:
- Competitive Pricing
A functional product guaranteed to last to age 120 as long as required premiums are paid, all for around the price of a weekly video rental.
- Efficient Enrollment
Experienced enrollers will administer the entire enrollment right at the workplace, so it’s quick and easy for everyone.
- Accessibility
No extra forms for employees to complete or unexpected underwriting hassle during the enrollment process. Also, premiums are paid through the convenience of payroll deduction.
- Flexibility
Employees select the amount of insurance that fits their budget and needs, and can make adjustments as those needs change.
- Portability
The insurance policy or certificate goes with the employees even if they terminate employment, retire, or experience a change in health as long as policy premiums are paid.2
- Immediate Coverage
Temporary Coverage begins as soon as enrollment is completed.3
Robust, Flexible Living Benefits
WorkLife II includes a number of optional riders that make it even more beneficial to your clients and their employees.
With our Accelerated Death Benefit Rider for Daily Living (DLR), insured employees who become unable to perform two of the six Activities of Daily Living, or are diagnosed with a cognitive impairment and have a physician’s plan of care in place, are eligible to receive accelerated benefits in the amount of 4 percent of the face amount per month for up to 25 months.4
The DLR can be combined with a Restoration Rider, which restores the base policy face amount as the DLR is paid out for up to 25 months,5 and an Extension Rider, which extends the payout period of the DLR up to an additional 25 months.6
Worklife II also gives employees the flexibility to automatically increase premium payments over time to attain higher coverage amounts. Other options include an Insured Children’s Benefit Rider, an Accidental Death Benefit, and a Waiver Benefit, which waives premiums and continues coverage if insured is deemed totally disabled from their primary occupation. See the WorkLife II web site for full details.
Act Now
LIMRA reports that more than 25 percent of firms with at least 10 employees express some interest in introducing a new voluntary benefit option in the near future.7 If your clients are considering a voluntary life insurance plan for their employees, WorkLife II could be the solution.
Symetra will partner with you to provide hassle-free, onsite enrollment, benefits administration, and access to value-added services. To learn more, contact the Symetra Financial Sales Center at invest@symetra.com or 1-800-706-0700.
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