The new offering is expected to improve options for multigenerational workforces
Empire Life has introduced a new blended employee benefit option for group insurance customers. Those with a minimum of 20 employees that add the minimum amount of life insurance can avail of either traditional life insurance or a blend of life and critical-illness insurance.
“With up to five generations at work today, our customers are challenged like never before to provide benefits that meet the needs—and values—of a highly diverse workforce,” said Steve Pong, senior vice president of group solutions at Empire Life.
Life insurance provides a tax-free death benefit, while critical illness insurance pay out a tax-free disability benefit for individuals diagnosed with one of several life-threatening illnesses. Empire Life said its blended option for minimum-coverage plans helps leaders provide protection that best aligns with their benefits philosophy and employee needs.
“This option recognizes that employees have different needs at different life stages, and that our customers also vary widely in what they want from a benefits plan,” said Michael Perry, vice president of group product and marketing.
The group critical illness insurance offered by Empire Life covers 31 health conditions, and includes complimentary access to a health concierge service. Provided by MedExtra, the health concierge service can speed up diagnosis, help determine the best treatment plan, and coordinate between employees, their families, and hospital staff, as well as provide emotional support.
“We’re delighted to be providing customers with an added level of flexibility and choice in their employee benefits,” Pong said.
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“With up to five generations at work today, our customers are challenged like never before to provide benefits that meet the needs—and values—of a highly diverse workforce,” said Steve Pong, senior vice president of group solutions at Empire Life.
Life insurance provides a tax-free death benefit, while critical illness insurance pay out a tax-free disability benefit for individuals diagnosed with one of several life-threatening illnesses. Empire Life said its blended option for minimum-coverage plans helps leaders provide protection that best aligns with their benefits philosophy and employee needs.
“This option recognizes that employees have different needs at different life stages, and that our customers also vary widely in what they want from a benefits plan,” said Michael Perry, vice president of group product and marketing.
The group critical illness insurance offered by Empire Life covers 31 health conditions, and includes complimentary access to a health concierge service. Provided by MedExtra, the health concierge service can speed up diagnosis, help determine the best treatment plan, and coordinate between employees, their families, and hospital staff, as well as provide emotional support.
“We’re delighted to be providing customers with an added level of flexibility and choice in their employee benefits,” Pong said.
Related stories:
Life insurance still a valuable tool for limiting tax burden, says expert
Restaurants step up on kitchen staff benefits
