Group Whole Life Insurance
New Benefits for Prevailing Wage Contractors
Prevailing wage contractors are in a competitive environment, both in the bidding process and in their ability to attract and retain employees. And becoming a top employer in your industry means finding the balance between savings and offering a strong, competitive benefits package.
How Can Group Life Help?
By spending your fringe dollars on bona-fide employee benefits, instead of paying fringe in cash, you minimize your payroll burden, which in turn results in savings that make your organization more competitive in the bidding arena.
Beyond just providing savings, a Group Whole Life plan enables you to provide strong financial security for your employees through a competitive life insurance offering and the option for cash accumulation to help them meet their retirement goals. That level of financial security is important for your employees, and also helps you and your company by translating into a workforce that is consistent and appealing to new workers.
What is Group Life?
Contractor Benefits:
- New vehicle for fringe dollars – unused or reallocated
- Competitive benefits program to help attract and retain employees
- Minimize burden on your payroll
- You select your premiums
- Help employees become financially secure
Employee Benefits:
- Avoid the risk of dependence on group term insurance
- Guarantee issue amounts up to $500,000, regardless of health history
- Guaranteed lifetime benefits and premiums
- Cash value and dividends
- Portable at no extra cost
What Next?
If you’re interested in pursuing this option, or if you would like to see if this is the right fit for your organization, reach out to our Benefits department and they will gladly work with you to determine if this is the right solution for you.
IBTX, an Acrisure Agency Partner, specializes in risk management and insurance solutions. Empowered with innovative thinking, our experienced professionals deliver creative solutions to proactively manage risk, mitigate exposure and consequences and minimize financial and human impact. We are among the largest independent brokers in the Southwest with a mission to instill confidence in our clients.
Acrisure is the marketing name of the national group of agencies offering insurance and risk management expertise through Acrisure, LLC and its affiliates. For additional information, please visit our website at https://acrisure.com.The information and descriptions contained herein are provided for general informational purposes only, and should not be viewed as a substitute for legal, regulatory, or other advice on any particular issue or for any particular reason. The advice of a professional should always be obtained before purchasing any insurance product or service, and you should not rely on the information provided herein for the prevention or mitigation of risks or as a full and complete explanation of coverage under any insurance policy. While the information contained herein has been compiled from sources believed to be reliable, no warranty, guarantee, or representation, either expressed or implied, is made as to the correctness or sufficiency of any representation contained herein.
Posted by Nicole Lozano in Blog, Health & Benefits