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Prosperity Group Benefits
The Insurance Exchange is excited to announce a new worksite product offering through Prosperity Life!
Not only does this help your clients with out-of-pocket expenses, but it helps you by increasing your commissions!
Prosperity’s goal is to “bring you expert, creative solutions and personalized, responsive service to meet your sales support needs.”
What are Voluntary Benefits?
Voluntary benefits are optional, employee-paid benefits. Commonly referred to as “supplemental benefits,” they have expanded with the rise of high-deductible health insurance plans and the availability of new kinds of benefits.
As full-coverage medical plans have continued to get more expensive, employers are increasingly turning to personalized voluntary benefits to lower their costs and allow employees to choose the benefits that best fit their needs.
Offering a range of voluntary benefits is considered a key strategy for human resources and HR technology in organizations. These benefits can help employers attract and retain employees.
The Insurance Exchange and Prosperity are happy to offer these Core Products in our Portfolio.
- Accident Insurance
- Hospital Indemnity Insurance
- Critical Illness & Cancer Insurance
- Medical GAP Insurance
We’ve worked with Prosperity to offer common-sense real-world underwriting and participation requirements.
- Guaranteed Issue
- During the initial enrollment
- New Hires/newly eligible during the year
- During every year’s annual open enrolment period
- Participation: the greater of 3 employees or 5% per product line
- Guaranteed Issue starts on groups with 3 or more employees
Designed to Make it Easy to Sell
“Hybrid” product: Group Products with some Individual product characteristics (AI, CI, HI)
- Group characteristics: competitive pricing, robust coverage, and aggressive underwriting
- Individual characteristics: shelf rates, portable, rate stability
PLUS
Innovative, differentiated coverage options with next-level plan design flexibility.