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Follow on Google News | First Rehab Life Launches Packaged Employee Benefits At Flat RatesFirst Rehab Life’s innovative “BenePaks” make Employee Benefits easy
By: First Rehab Life First Rehab Life’s philosophy has always been to make insurance easy for producers and employers alike. With this vision in mind, BenePaks simplify the application and administration of multiple products in one package: one application for the employer, one enrollment form per employee, and only one group number for employees to remember. Additionally, benefit levels and prices are pre-set for each package. These features make the presentation and application process easy for brokers and the decision and enrollment process simple for employers as well as employees. Employers can choose which packages to offer to their employees, or have their employees select the package of their choice. First Rehab Life currently offers three BenePaks to choose from: • CorePak includes basic protection in the form of Term Life, AD&D, and Hospital Cash Insurance. • ClassicPak and ChoicePak provide higher benefit levels for the CorePak products and include Dental and Vision. With First Rehab Life’s niche and expertise in the small group market, it recognizes the importance of providing these packages for groups as small as two participating employees with bguaranteed acceptance. To accommodate today’s tight benefits budgets, BenePaks come with a built-in package discount and can be written as employer-paid, contributory, or voluntary plans that are employee-paid at the same pre-set price: rates are the same regardless of employee ages, funding option or participation level (within underwriting requirements) Recent trends have shown that an increasing number of New York 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 broker 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. Constantine Lappas, COO, who oversees product development, explains: “Small neighborhood businesses make up a significant client base of the agencies we work with 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. Often times, 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. We are confident that BenePaks will bring employee benefits within easy reach for these businesses.” For employers without a benefit budget who choose to offer BenePaks on a voluntary basis to their employees, the pre-packaged constellation of benefits provides employees with multi-featured yet simple options to meet their needs and built-in discounts that help them fit those benefits within their budgets. Together, BenePaks and the newly introduced suite of BaseLine insurance (i.e. guaranteed-issue group insurance products with only one rate per employee, one pre-set plan design, and one bill that don’t require any rosters or enrollment forms), expand the path of the company’s mission of simplicity. ____________________________________________________________ About: 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; End
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