BaseLine equals simplicity: BaseLine versions of First Rehab Life’s group insurance products have only one rate per employee (i.e., no rate tiers or underwritten rates), one pre-set plan design, and one bill. BaseLine also allows for fast-tracked submission: there are no rosters and no enrollment forms with guaranteed-issue. These simplified group benefits are only available for fully employer-funded (non-contributory)
First Rehab Life plans to make BaseLine products available to employers without First Rehab Life DBL coverage in the future. The current line-up of BaseLine products includes Term Life and Hospital Cash insurance.
Recent trends have shown that an increasing number of property/casualty agencies are focusing more of their attention to group benefits than ever before. First Rehab Life’s DBL roots and close-knit relationship with the independent agent community allow the company to take the pulse of such developments and proactively develop concepts that complement this major segment of the New York insurance arena.
Small neighborhood businesses make up a significant client base of these agencies and are often left out when it comes to group employee benefits: they are usually too small to get customized attention and be underwritten by most carriers. In many cases, these businesses don’t have experience in selecting benefit levels and are simply looking for straightforward benefits that allow for an easy, one-stop decision process.
All these things taken into consideration, Constantine Lappas, COO, who oversees product development, states: “We developed a new, innovative concept for group insurance that allows the carrier to accept any size group on a guaranteed-issue basis without enrollment forms at a simple flat rate per employee.” To distinguish this new, simplified suite of insurance products from their line of traditional group insurance, First Rehab Life uses the branding term “BaseLine”
On the other end of the product spectrum, First Rehab Life also writes the traditional version of group benefits, branded as “FlexLine”
First Rehab Life is headquartered in Great Neck, NY, and licensed in 16 states. The company was founded in 1972 and holds the Excellent rating of A- by A.M. Best and Standard & Poor’s. As a leader in the NY statutory disability market, First Rehab Life writes ancillary employee benefits (Vision, Dental, Hospital Cash, Term Life, Short/Long-Term Disability) exclusively through a network of more than 5,000 independent insurance producers (brokers and agents). First Rehab Life currently insures more than 120,000 employers. Visit www.firstrehab.com for details.
This press release contains forward-looking statements and information – that is, statements related to future, not past, events. Such statements are based on the current expectations and certain assumptions of the management of First Rehab Life and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond their control, affect their operations, performance, business strategy and results and could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Risks may include, but are not limited to uncertainties in connection with: disposing of business activities, certain strategic reorientation measures; the performance of equity interests and strategic alliances; the challenge of integrating major acquisitions, implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies or market entries by new competitors;