Voluntary Employee Benefits or VEBs…
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VEB’s are 100% employee-owned & portable benefits, that are offered through our agency, and underwritten through our trusted carriers. This can come at “No Cost” to the employer, and without physicals or long applications from the employee. Product offerings vary, but most include Universal Life, Short-term Disability, Accident & Critical Illness policies. Each company will be unwritten, which means product offerings, rates, and enrollment strategies will vary per employer.
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• No cost to the Employer:
Employers can contribute a percentage or flat amount, per employee, if they want. Sometimes this program can be another option to replace a current Life, disability, or accident plan they currently have in force.
• Employee Retainage & New Employee Hiring Tool:
This program is a unique tool to help employers attract new employees and help keep their turnover low. Companies with or without major medical can benefits from this program.
• Flexible Open Enrollment Strategies:
Depending on the nature and size of the business, we have an enrollment strategy that fits all. This includes an in-person, Virtual, or Telephonic enrollment option, to make sure every employee has a chance to meet with us.
• Can include 1099’s!
That’s right! Even your 1099s are able to participate in this program. *Certain underwriting guidelines must be met.
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• Time:
Open enrollment periods vary in size, depending on the size & nature of the group but we ask the employer for “time” to meet with each employee to do their enrollment. This can take about 30-45 mins per employee. Sometimes we ask to come in and do an in-person presentation to the group, before the enrollment period. This takes about 15-30 minutes.
• Communication:
Communication is key! We ask the employer to help us communicate this program to their employees, the best we can. Making sure the employees understand the program & what is being offered, is key for the program to run smoothly and successfully.
• Monthly Payments to Carrier:
After enrollment, the employers will be responsible for deducting each employee’s premium, from their paycheck, and then paying a collective monthly invoice to the carrier. This is set up with our assistance and can be set up on auto-pay as well.
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• Group rated, but 100% individually owned & portable products:
This means the employee is getting a great “group” rate being part of your company! If they purchase a product, and leave for whatever reason, they can take their policies with them at no extra cost or reduction in coverage.
• NO Doctor’s visit or Physicals:
This program’s unique feature means NO blood work, urine samples, or extensive applications. A few simple Yes/No questions, and some basic information, and they’re on their way!
• Guaranteed Issue (GI):
This means no matter what the health background or current health of an individual, they will be able to purchase a product, up to a specified amount without being denied.
• Coverage for Family:
Employees can purchase certain products for their spouse, partner, children, and sometimes grandchildren.
• Payroll Deduction:
Premiums are easily paid via payroll deductions from employers. If an employee leaves the company, premium payments can easily be moved to a personal banking account.
• Employee Value Adds:
To encourage employees to sit down with us for an enrollment, our carriers provide an add-on benefit for them. This could be free Tele-Med Service, a free AD&D Policy, or others.
*Employees can get this, even if they do not purchase a product