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Here are five reasons to expect more when you renew your stop loss business with Symetra Life. |
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When you renew your medical stop loss business with Symetra Life Insurance Co., you’re partnering with an industry leader who understands your business — a national company with a 30-year track record of financial strength and pricing stability in the stop loss market.
Symetra Life isn’t just a stop loss pioneer — we introduced the product to the marketplace back in 1976 — we’re also an industry leader who has built one of the best and largest medical stop loss organizations in the country. Here are five reasons you can expect more when you renew your stop loss business with Symetra Life:
- No need to fear “lasering” at renewal. We believe our customers have the right to expect a certain level of insurance protection, which means we won’t require employers to “laser” a single, severely ill employee from coverage at renewal (unless specifically requested to do so). Because we are one of the few carriers to cover 100 percent of our own risk, our customers know they’ll never be left without options.
- Less-restrictive contracts. Take the time to compare contracts! Many contracts include specific and aggregate exclusions that limit claims. Symetra Life writes thorough, yet user-friendly contracts that generally follow the eligibility and eligible expense criteria of the employer's benefit plan. This helps eliminate gaps between what the plan will pay for and what we will reimburse.
- Custom protection with “aggregating specific.” We offer an “aggregating specific” contract (also known as our “Individual Excess Loss Advantage Provision”) that allows employers to keep renewal rates down by modifying their risk assumption with an additional pool of money. If future claims are lower than expected, the employer enjoys the lower premiums and keeps the aggregating specific money pool.
- No “formal disclosure” surprises. We do not ask for a formal disclosure at renewal, which means we will never deny a claim because of an unintentional omission of ongoing or newly diagnosed conditions. We understand that employers may not be aware of every single medical expense at the time of renewal, and we won’t put them at financial risk because a medical provider was slow in submitting the bill — or any other circumstance that might result in an accidental omission.
- Pricing stability. Our size, financial strength and stability allow us to offer competitive pricing through economies of scale and by spreading claims risk across our entire block of business. As one of the nation’s largest stop loss carriers, we can provide services other stop loss writers can’t — such as offering managed care support that helps plan administrators analyze various claim scenarios for cost-savings opportunities.
Those who know Symetra Life know we do not compete by being the least expensive carrier, but by being easy to do business with, offering competitive products, and providing quality service.
For more information, including a one-page checklist of our quoting requirements, visit us online at http://www.symetra.com/financial/group/stoploss.asp, contact your regional manager, or call our home office toll free at 1-800-426-7784.
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