Why New York State Employers Should Offer Enriched DBL Coverage

Five ways it benefits employers to provide a living wage for workers on NYS DBL.

In the months leading up to the election, there’s been a lot of talk about Americans having the opportunity to earn a living wage. While some states have minimum wage laws in line with their costs of living, the Federal minimum wage as of 2016 is only $7.25 as of July 2016. Most of us reading this might remember earning that much during high school or college—it’s certainly not enough to raise a family or buy a home. New York State workers—and their employers—face another wage challenge: Mandatory NYS DBL payments cap out at 50 percent of an employee’s paycheck, up to $170 per week. This is not a living wage. And the financial burdenNYS-DBL-Businesspeople is even greater if the employee is facing medical bills and co-pays or the birth of a newborn and the added expenses that come with a child.

But there is a solution.

It’s important for New York State business owners, CFOs, and HR directors to understand why they should offer enriched DBL coverage in New York to provide employees on temporary disability with a living wage. If you’re a broker, please share this information with your customers to start earning commission on these enriched mandatory benefits today.

1. Enriched DBL coverage can encourage employee retention.

An injured or ill employee on temporary disability shouldn’t have to worry about how they will pay their bills. If your organization isn’t taking care of them, they might use their time off to polish up their resume and look elsewhere.

2. A robust benefits package helps attract top talent—even across state borders.

Today’s employees, particularly millennials, want to have it all in a job: Salary, flexible hours or work locations, and a robust, customizable benefits package. Providing enriched DBL—even if the majority of your employees don’t use it—lets you beef up your benefits package.

Additionally, New York-based businesses in Manhattan or on the New York / New Jersey border should consider that they are competing with New Jersey-based businesses—which already have a generous mandatory disability benefits package—for top talent. A NYS DBL package that rivals New Jersey’s Temporary Disability Benefits might help you attract the best employees from over the bridges.

3. As far as benefits go, enriched DBL provides employers and HR directors with a lot of “bang for their buck.”

With minimal employer contributions, which can be shared with employees at a rate of one-half of one percent of the employee’s wages up to 60 cents per week on pre-tax dollars, employers can offer generous NYS DBL coverage of up to $850 per week. Few benefits cost so little yet provide so much value.

4. With New York introducing Paid Family Leave in 2018, enhancing DBL benefits to keep pace will improve employee morale and loyalty.

In states that offer Paid Family Leave, this benefit for new parents and anyone caring for an ill or injured loved one has been shown to improve employee morale and loyalty. More importantly, co-workers don’t mind helping out to cover for employees taking Paid Family Leave.
Offering enriched NYS DBL benefits for employees who are ill or injured can help ensure co-workers won’t resent those who are out on PFL, because they know they have the same protection should they ever be unable to work.

Additionally, New Jersey employers found that the state’s generous paid leave package helps reduce stress amongst employees who took leave, as well as their co-workers, which can impact the company’s bottom line, according to the National Partnership for Women and Families.

5. Top executives benefit, too.

When you enrich your DBL benefits package in New York, your disability benefits package will increase, too, up to the maximum of $850/week or $1020/week with in-hospital coverage. You can also add an Accidental Death & Dismemberment (AD&D) rider to the policy, with a tiered plan that will provide your C-suite with the most coverage available.

Find out more about Enriched DBL in New York State in this post, or bind your NYS DBL quote for a company with fewer than 50 lives here.


The DBL Center Now Offers Medicare Advantage Plans

Earn robust commissions when you refer your customers to our Medicare specialist.

Brokers who write their policies through The DBL Center now enjoy yet another advantage in addition to our excellent choices in disability insurance and ancillary benefits and our personalized, white-glove service. We recently signed with a Medicare specialist who can help you earn robust commissions with lifetime renewals on Medicare Advantage policies.

More than 40 million Americans qualify for Medicare.What Do Medicare Advantage Plans Offer?

Previously known as Medigap coverage, and sometimes called Medicare Plan C, Medicare Advantage plans are a private insurance option to Medicare Parts A and B. They provide all the coverage of Medicare Part A (hospitalization) and Part B (healthcare coverage). But these plans offer added benefits beyond government-provided Part B coverage. These benefits may include expanded choices in healthcare providers, lower deductibles, prescription drug coverage (Medicare Part D), and even vision, dental, or hearing coverage.

When Can Customers Sign Up?

If you know anything at all about Medicare, you might know there are specific enrollment periods.

Three months before an individual turns 65, up to three months after their 65th birthday, that person can enroll in any Medicare Advantage plan.

Current Medicare recipients can change their Medicare Advantage plans or switch to Medicare Advantage every year between October 15 and December 7.

That means, the time to inform your customers about Medicare enrollment is right now. Many people don’t realize they can change plans during this Annual Enrollment Period. But you’ll always have an influx of new leads as your current customers turn 65, too.

Our Specialist Understands the Options… So You Don’t Have To

Medicare Advantage plans come in many forms, including HMO and PPO plans and a host of others. It can be confusing to sift through all the options—and then explain them to customers who may have, previously, been accustomed to simply taking whatever health care coverage their employer offered.Medicare-Advantage-Graphic

When you write Medicare Advantage policies through The DBL Center’s Medicare Division, you don’t have to understand the intricacies of Medicare, including enrollment periods, penalties, and private plans. Simply introduce your customers to our Medicare specialist, who will explain the choices, match your clients with the best plan, and write the policy.

You collect robust commissions with lifetime renewals… and virtually no extra work. It’s consultative selling at its best. You build the relationship, and become their trusted resource. Our specialist steers them the right way. We all make money.

A Growing Population of 65+ Americans

Your current disability and ancillary benefits clients will, someday, turn 65 and become eligible for Medicare.  Chances are, you also know people in your personal life who are currently trying to make sense of the confusing “alphabet soup” of Medicare. Here’s your chance to help as their trusted resource and introduce them to someone who can guide them through the Medicare maze.

Here at The DBL Center, we are always looking for ways to help our brokers expand their book of business and earn more money. In 2010, there were 40.3 million Americans over the age of 65, and that number continues to grow as Baby Boomers age.  With 31 percent of Medicare enrollees purchasing Medicare Advantage coverage, it’s the right time to tap into this lucrative market.

Contact The DBL Center Ltd. today to get started earning robust commissions on Medicare Advantage plans.

Photo © Aidan Sally, Flickr Creative Commons

 

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Communicating Voluntary Benefits to your Customers and their Employees

Brokers: Are you taking these steps to show your customers the value of voluntary benefits?

As healthcare premiums continue to rise while coverage levels drop, smart business owners and HR directors are finding ways to recruit new talent and retain employees by offering voluntary ancillary benefits. This opens an opportunity for P&C and health insurance brokers to tap into new streams of revenue by bundling ancillary benefits with mandatory insurance coverage like DBL and TDB.

But knowing how to communicate these benefits is important for HR directors to get buy-in from employees. Insurance brokers are in a unique position to help spread the word about the advantages of voluntary benefits.

These tips can help.

1. Get buy-in from top executives first.

If a broker is to successfully sell voluntary benefits to an organization, it starts at the top. Focus on selling a comprehensive package of voluntary benefits to the c-suite, that way those executives (including the HR director) can knowledgeably spread the word to their employees.

Many voluntary benefits, including Group Life / AD&D, provide tiered coverage levels, where high earners gain the greatest return on their investment, so it makes sense to sell to the c-suite first.

2. Be prepared with answers to common employee questions.

Most employees thinking about investing in voluntary benefits want to know:

– How much will they save compared to buying coverage individually?
– What are the risks if they don’t invest? (i.e., How much will it cost if they have to pay for these unexpected expenses out-of-pocket?)
– Are there any tax benefits to the investment?

They might also be interested in knowing the percentage of their colleagues who’ve invested in voluntary benefits, and which benefits other people like them have found to have the greatest value.

3. Use technology as well as face-to-face meetings to convey information.

Consider setting up a Benefits Calculator on your website, or publishing a blog that addresses frequently asked questions and spotlights industry trends. You’ll establish your brokerage agency as an expert, gain trust with customers, and potentially attract new leads, too. HR directors, busy executives, and business owners can then use these resources to make informed decisions about voluntary benefits and also share the information with their employees. (Don’t forget to check The DBL Center blog regularly, too, for information you can share with your customers.)

4. Tailor benefits packages to your customers with personalized options.

Today’s workplace is unique in that it spans three to four generations of workers, from the incoming “Founders’ Generation” or Gen Y, to Millennials, GenX, and Boomers, who still make up about Voluntary benefits are another piece to the puzzle for earning greater commission as an insurance broker.. While financially savvy Millennials are likely interested in 401K packages to begin planning for retirement now, GenXers may be thinking about life insurance as they face middle age. Dental and vision coverage might appeal to Boomers with mounting medical needs.

If you can, poll employers and their employees about which benefits will appeal the most, and put together insurance bundles that meet these needs. The DBL Center is here to shop the best benefits packages for you based on what your customers want.

5. Know the key advantages to voluntary benefits in order to convey them to your customers.

Voluntary benefits provided through an employer offer many advantages over individual benefits. Employees are likely to find greater value in voluntary benefits—even if the employer isn’t sharing any of the cost. When they buy from a broker they trust who, in turn, uses an insurance wholesaler to find the best coverage with the lowest premiums, everybody wins. It’s all about leveraging industry relationships and insurance bundles to deliver the greatest value to the customer.

It’s also more convenient for employees to choose from a pre-selected package and then have costs deducted directly from their paychecks. Paying for insurance with pre-tax dollars results in added cost savings, too.

6. Make sure employees at every level understand benefit offerings.

Employees can’t invest in voluntary benefits if they don’t know what their company offers. While buy-in from top execs is key, smart brokers will also look for opportunities to speak directly to employees at every level.

Consider hosting a lunch-and-learn, where you outline the advantages of voluntary benefits in a fun, informal setting. You can even bring in a comedy act to break the ice and make attendance at the meeting more enticing. You’ll get employees in a good mood and build trust, which will make them more likely to buy.

Let Your Insurance Wholesaler Help

As your back-office support staff, The DBL Center Ltd. is here to provide you with the tools you need to better sell voluntary benefits and provide you and your customers with the white glove service you deserve.


How to Bundle Insurance, Build Loyalty, and Save Your Customers Money

Bundle insurance benefits packages to save your customers money and earning more commission with bigger sales.

If you’re a health insurance, disability insurance, or P&C broker you understand the pain of dwindling profit margins, increased premiums, and reduced choices for your customers. Good brokers look for ways to save their loyal customers money and deliver greater value.More brokers, today, are discovering they can save their customers money on disability insurance and ancillary benefits if they bundle insurance benefits together and purchasing from one wholesaler.

The Time-Tested Concept of Bundling Services

The idea of “bundling” services to save money isn’t new. About a decade ago, before streaming video services broadened our television horizons beyond cable, consumers bundled their home phone, cable, and Internet service together for substantial savings. People still do it today—although there are even more technology options available.

In the insurance industry, P&C brokers are very familiar with a number of ways to bundle insurance coverage. Individual and business customers alike may bundle property and auto insurance under one carrier for significant savings.

Why not take that one step further and bundle insurance products like your corporate customers’ ancillary benefits under one carrier, too?Smart brokers bundle insurance to save their customers money.

Whether you’re a broker currently selling P&C products, health insurance, or disability coverage, you can bundle insurance together through The DBL Center Ltd. and pass the savings on to your customers. They might be encouraged to purchase additional ancillary benefits or products like enriched DBL with the savings. You’ll build loyalty and develop even better relationships with your corporate customers as you take a consultative selling approach to your business.

What Can You Bundle?

Traditionally, many companies bundled health-related insurance products like vision and dental coverage through their health insurance provider. But the Affordable Care Act has led to increased premiums and decreased coverage.

Smart brokers—including P&C and best-in-class health insurance brokers—can fill those gaps when they bundle insurance like dental and vision coverage, previously purchased through health insurance companies. It makes just as much sense, today, to bundle ancillary benefits with mandatory disability coverage—a product your customers in New York, New Jersey, and Hawaii need to buy anyway.

The DBL Center also provides long-term disability, Group Life / AD&D, enhanced disability, and other benefits in bundled packages for cost savings and easier management of policies. We can even help you provide customers with 401K employee retirement benefits. For smaller businesses and individuals, we offer disability income replacement (DI) coverage and individual life insurance, giving our brokers endless options to cater to any size customer.

Let The DBL Center Do the Work

By working through The DBL Center Ltd., you always have one point-of-contact for all your insurance sales, commission checks, and customer service, saving you time. And you’ll save your customers even more money by letting us help you bundle insurance benefits under one carrier.

We will shop around to find your customers the best rates, including the lowest premiums and highest quality coverage, in a bundled benefits package. We do it all, acting as your white-glove back office service staff to write the policies and service your customers in a white-label capacity, freeing you up to sell more insurance, recruit new customers, expand your book of business, and cash commission checks made out directly to you.

Bundling benefits makes sense for brokers and their customers. So does working with an insurance wholesaler to capitalize on a number of different ways to bundle insurance. Why not call The DBL Center and get started today?


New Broker? Consider Using an Insurance Wholesaler

Are you a new insurance broker? Have you been licensed as a broker for some time, but have recently fled health insurance sales due to dwindling commissions and all the red tape forced by Obamacare?

Whether you’re new to the industry or simply new to Property & Casualty insurance sales for businesses, it might make sense to purchase policies through an insurance wholesaler. In today’s highly competitive industry, when top insurance agents are leaving the field—due to retirement, career burn out, or to change careers—a new broker with the right guidance and relationships can experience unprecedented success. The DBL Center team is here to help new brokers.

Let’s look at some reasons to choose an insurance wholesaler as you begin to grow your book of business in this industry.

1. An insurance wholesaler is willing to provide guidance and mentorship.

The BizzGrizz blog recently featured the top three reasons why young insurance agents fail. Number one on the list? “Lack of quality training/education.”

Organizations and schools exist that provide training to young agents. Quality publications like LifeHealthPro offer hundreds of articles and resources to guide those new to the industry, as well as veterans looking for new ideas and support.

But a new agent can also find the necessary mentorship through an insurance wholesaler. Not only does the DBL Center Ltd. provide training upon request, we are always ready and willing to guide new brokers to success. After all, when our brokers produce, we grow, too. Your success is our success.

2. The first few years as an agent can be challenging and your insurance wholesaler is here to help.

Many brokers enter the industry seeking fast and furious financial success. When it doesn’t come, they might get burnt out and seek a new career. From guiding new brokers through the obvious up-sells of ancillary benefits, Group Life / AD&D and even 401K programs, to connecting you with the lowest premiums and most robust policies for your customers by bundling insurance products, a savvy insurance wholesaler can help new P&C, as well as new Life and Health brokers, achieve success early in their career and continue to grow.

The DBL Center Ltd. is celebrating its 40th anniversary this year, and has decades of experience in the insurance industry. We can—and will—show you how to build relationships, and when you sell your products through us, we provide your customers with the best white-label service, so they will associate that white glove service with your name and your agency.

3. Insurance wholesalers provide the technology-based service you expect.

As insurance brokers leave the industry faster than they come in, insurance wholesalers, carriers, and brokerages, alike, face unique recruiting challenges. Millennials and members of Gen Z preparing to enter the work force are hard-working, tech-savvy, and demanding when it comes to having workplace flexibility and the technology tools to do their jobs wherever they might be.

With the ability to bind DBL coverage in New York for under 50 lives quickly and easily, online, as well as online access to a number of our carriers, The DBL Center offers the technology young insurance brokers expect, which may not always be available through other channels.

Let The DBL Center Help You Take Advantage of Opportunities in P&C Insurance

Twenty-five percent of P&C brokers expect to retire by 2018, according to a study by McKinsey and Co. This leaves an enormous gap to be filled by bright, young talent.

If you’re a new broker, stick with it. Opportunities abound. The DBL Center Ltd. can help guide you toward success.


Do Your Clients Need Life Insurance?

Most people need life insurance. But the reasons may not be what you’d expect.

The sales tactics for life insurance are familiar, and designed to tug at the prospective client’s heartstrings:

What would happen to your family if you were to pass on suddenly? Would they lose their home? Would your children be able to attend college as you had always planned? Would your significant other be stuck with a mortgage he or she can’t afford to pay?Life-Insurance

While these reasons for investing in Group Life / AD&D are compelling—and effective to sell voluntary or employer-funded life insurance policies—it’s also worth understanding some the specific reasons people should invest in life insurance.

LifeHealthPro Daily recently released a report of six problems solved by life insurance. Let’s consider some of these problems and solutions as they relate to Group Life /AD&D coverage for the average employee.

1. Not enough liquid cash to cover death expenses.
From the cost of a coffin, burial, attorney fees, and even any memorial services planned, survivors rarely have liquid cash available to coverage expenses associated with the death of a loved one. Having even a modest life insurance policy can give survivors peace-of-mind that their loved one will have the funeral they desired, which can also help loved ones mourn in an effective way.

Life insurance policies pay quickly following death of the policyholder, providing liquid cash when it’s most needed. If the deceased was the primary breadwinner, a life insurance policy can help the family pay upcoming bills on time and maintain their lifestyle, further contributing to their peace-of-mind during a difficult time.

This is, undoubtedly, the most common reason for most workers to invest in life insurance coverage.

2. The need for asset stabilization, especially in regard to real estate.
If property passes hands from one generation to another, associated taxes can often cause undue financial burden on surviving loved ones. Life insurance can help cover these costs.

When a family home changes hands, the survivor may not be able to afford the taxes or insurance on the property, which may result in a forced sale or even foreclosure of the property. A life insurance policy designed to cover these expenses may help a home remain within a family even after the death of the original owner.

3. Transfer of wealth costs.
When cash or real estate transfers hands following the death of the original owner, the transfer of wealth often comes with estate taxes, inheritance taxes, legal, and administrative fees.

Because life insurance is tax-free for the beneficiary, a life insurance policy can help reduce the financial burden of an inheritance.

If you’re already the trusted source for mandatory disability benefits, worker’s compensation coverage, and other benefits as the P&C broker for an organization, it makes sense to expand your book of business by offering Group Life / AD&D coverage.

The DBL Center Ltd. has specialists on hand to help you get started right away. Contact us about adding life insurance to your offerings today.


Advantages of Working with an Insurance Wholesaler

Are you a property & casualty broker whose products include worker’s compensation insurance, mandatory disability benefits, and ancillary benefits such as dental, vision, or life insurance? Have you considered the benefits of working with an insurance wholesaler?

Do you spend the time to shop each carrier for every client, in order to secure the lowest premiums and best coverage plans for your customers? Or maybe you work with a select group of highClock.jjpg-rated carriers and rely on those insurance providers for the bulk of your business in order to streamline your operations and processes. Have you considered the benefits of working with an insurance wholesaler to gain better access to carriers and provide a higher level of service to your customers? In short, an insurance wholesaler can save you time and help you earn more money.

Save Time and Money with an Insurance Wholesaler

If you’re a P&C broker, working with an insurance wholesaler can help you expand your book of business and increase your commissions while spending less time on every sale. Let’s look at some of the benefits of partnering with an insurance wholesaler to write new business and service and expand existing accounts.

1. An insurance wholesaler provides greater access to a broader choice of carriers.

Now in its 40th year in business, the DBL Center Ltd. works with the top-rated, well-known, highly respected carriers of mandatory disability coverage, group life / AD&D coverage, and ancillary benefits. Each of our carriers has a minimum A- rating (some with A++ ratings) from Standard & Poors, and provides us with the most competitive rates based on our contracts and block of premium that we manage through them, which we in turn offer the brokerage community.

2. Insurance wholesalers have a better, broad knowledge base of the market.

Our account representatives are experts in consultative selling, with a deep understanding of the Statutory and Employee Benefits space, in order to provide your customers and their employees with the best benefits packages and most affordable premiums. We spend time and money on employee training and education, so our account representatives are always up-to-date on the latest trends and industry technology, making it easier for brokers to provide a higher level of service to their customers.

3. An insurance wholesaler does all the legwork—the hard work—so you, as a broker, can focus on attracting new customers and expanding your book of business quickly and easily.

Imagine having a partner you can trust to provide your customers with the best policies and lowest premiums available on everything from state-mandated disability coverage to ancillary benefits such as Life, Long & Short Term Disability, vision and dental coverage. That’s what the DBL Center Ltd. provides. We write every policy through our white-glove, white-label service, so it’s your name and agency number that appears on every form.

We provide the highest level of round-the-clock service to the insured, so you don’t have to spend time on servicing accounts. Send us the necessary information to provide you with a fair quote for your customer, we will bind and write the policy, and you cash the commission check. It really is that easy.

4. We recognize additional opportunities for increased revenue for our brokers.

As the Affordable Care Act reduced health benefits for a number of companies and employees nationwide, Life and Health brokers are in a unique opportunity to bridge that gap with voluntary ancillary benefit policies for workers. P&C brokers are sitting on additional revenue streams, simply by offering these niche products to their commercial clients with the help of an insurance wholesaler to guide them through the process.

The DBL Center Ltd. has been in the business of ancillary benefits, as an offshoot of our disability insurance products, for decades. We are happy to help P&C brokers increase their commissions through the sale of voluntary or employer paid ancillary benefits.

5. We offer training and value-added services to our brokers.

The DBL Center is here to help our brokers every step of the way, because your success is our success. To that end, we provide training resources, mentoring, and information on industry trends, including the articles we post here on this blog every week.

We also provide value-added services, from lining up entertainment for your holiday party to acting as a concierge service if you want to show a top client a once-in-a-lifetime night on the town. Now, thanks to a partnership with Steiner Sports, the number one source for sports memorabilia, with exclusive contracts with many top professional athletes, the DBL Center Ltd. can book celebrity appearances, comedy acts, and other entertainment for corporate events and outings.

Interested in increasing your commission and enhancing the service you provide to customers? Contact The DBL Center today.


Are Voluntary Benefits the Answer for Some of Your Customers?

Employee expectations about benefits packages have changed. Are you leaving money on the table by not suggesting voluntary benefits to your customers?

Back when many of us joined the workforce, employers picked up most (or all) of the cost of premiums for health insurance, vision, dental, and maybe even life insurance. This was especially true for union workers. Many companies also offered employee pensions, matching 401K funds, and other benefits designed to improve retention rates within organizations and send the signal to employees that longevity was important. In short, companies took care of their employees and hardly anyone offered voluntary, employee-paid benefits.

Increasing insurance premiums, the Affordable Care Act, and a number of other factors have changed the benefits employers provide. At the same time, it’s also changed employee expectations.

Today, employees consider an affordable healthcare plan with a decent choice of providers, even if they’re paying a large percentage (or all) of the premiums, a good benefits package. Similarly, employees are happy to have the option to purchase dental, vision, and group life / AD&D coverage, at rates vastly reduced from what they could purchase privately.

A strong ancillary benefits package, even voluntary benefits, continues to be a driver of employee retention and satisfaction.

Survey Says… Employees Want Ancillary Benefits

A recent report by Harris Interactive showed that 65 percent of employees want life, dental, and vision insurance—even if they have to pay for it. Yet, fewer than 50 percent of employers today offer these benefits.

In many cases, employers feel their employees won’t want to pay for something that was, previously, fully subsidized by the employer. But expectations have changed and employees understand that they might have to absorb some of the cost of ancillary benefits—they might even factor this into their initial salary negotiations.

For P&C insurance brokers, failing to suggest voluntary

Millennial workers embrace voluntary benefits to pay for things like vision and dental care.ancillary benefits to your disability insurance customers is like leaving money on the table.

Voluntary Benefits Don’t Cost Your Customers

Voluntary benefits packages that cover life insurance, dental and vision coverage, and even enhanced disability insurance could be the easiest sale you make—because you don’t have to sell it at all.

Voluntary benefits don’t cost your customers—that is, employers—any money at all. The costs are passed on to the employees, while the commission comes directly to you. It’s up to the employers to sell the benefits packages. And it should be an easy sell, since many workers today want these benefits and are willing to pay for them. All you have to do is make the offer.

Customer Education Increases Sales

Perhaps, in the same vein as brokers who sell 401K benefits plans, you bring in a catered breakfast and spend an hour showing employees how much they could save by purchasing voluntary benefits through their employer.

The premiums are deducted pre-tax, which is especially desirable to millennials, who are more likely to be single apartment-dwellers without a lot of tax deductions. And the savings over time adds up, making it a worthwhile expenditure for employees with or without families.

Smart employees are beginning to realize that the savings off the cost of braces, cleanings, and corrective lenses—to name just a few expenses—is well worth monthly pre-tax insurance premiums. It’s up to you, as the insurance broker, to offer employees the option of voluntary benefits.

Could you increase your commissions and expand your book of business with voluntary benefits? Let the DBL Center help with our white glove service.


3 Reasons You Should Be Selling Ancillary Benefits

Earn more commission and create happier customers with these insurance products.

Are your clients looking to make up the gaps left by the Affordable Care Act (ACA) in their employees’ benefits packages? Are you a health insurance broker looking to replace revenues lost as a result of ACA? Or maybe you’re a Property & Casualty broker specializing in disability benefits who spots opportunities created by ACA in today’s insurance market.

Whatever your reason, if you’re considering selling ancillary benefits, Ancillary benefits are a few of the gears in the machine that is a successful disability insurance agency.you might be hesitating and wondering if it’s a good idea. As a wholesale insurance broker celebrating our 40th year in business, we’ve followed the vicissitudes of the marketplace and we can tell you that right now is a good time (perhaps the best time in history) to sell ancillary benefits to your customers. Here’s why.

1. Your customers, and HR directors in particular, are scrambling to find ways to fill the healthcare gaps left by the ACA.

As a result of the ACA, many employees’ and business owners’ healthcare premiums went up, while the level of benefits went down. In many cases, dental and vision coverage, especially, became cost-prohibiitive under existing healthcare plans.

While accountants, controllers, and CFOs seek to control costs, HR directors look for ways to reintroduce these lost benefits. Ancillary benefits purchased through a disability insurance broker can make both departments —along with employees and business owners who will benefit —happy.

2. Ancillary benefits are an easy upsell to a robust benefits package that includes enhanced DBL or TDB coverage in New York State or New Jersey.

If you’re already selling enhanced DBL and TDB coverage, and you’re using consultative selling to earn the trust of your clients and increase their benefits, ancillary benefits that include vision, dental, and Group Life / AD&D coverage are an easy upsell to earn greater commissions with less work.

3. Give your customers greater discounts when you bundle ancillary benefits with enhanced disability coverage.

After facing increased healthcare premiums, employers and employees alike are looking to save money. You can help by offering bundled policies from the same carrier that includes enhanced disability benefits, vision, dental, and Group Life / AD&D. Your clients will love having one point-of-contact to deliver an exceptional service experience and save them money, too.

Expand Your Book-of-Business with Ancillary Benefits

Really, it comes down to this: Bundling ancillary benefits with disability coverage enables you to expand your book-of-business and earn more commission without increasing your workload or your number of accounts.

It costs five times as much to acquire a new customer as it does to retain an existing one, statistics show. If you can retain customers and sell them additional products to increase your commissions without the costs associated with acquiring new business, you can literally sit back and watch your profits grow – especially when you have The DBL Center serving as your back-office staff to manage those accounts.

The Importance of Ancillary Benefits for Today’s Businesses and Brokers

Ancillary benefits fill a much-needed gap for employees, employers and insurance brokers right now. If, until now, you hadn’t considered selling these benefit to increase your commissions with minimal effort, The DBL Center can connect you with top-rated carriers offering competitive rates.

Now more than ever, disability insurance is just the beginning.


Helping Employers Choose the Best Employee Benefits

Employee benefits are complicated. But you, the broker, can help.

Nearly half of all employees spend a mere 30 minutes choosing their benefits plan, according to this report from Namely, an all-in-one HR platform. What’s even more startling is that most employees (73 percent) simply roll over the same benefits from year to year. Questions about employee benefits? Brokers have answers.

Why is that?

Is it because employees don’t care about the benefits they’re receiving? Are they too overworked to spend any time researching their options? Perhaps they just believe all benefits plans are the same, and they’re not going to do any better than what they’ve had all along.

We suspect it’s a combination of these factors. Ninety percent of employees admit they don’t understand the changes to their policies each year. Choosing employee benefits is confusing and overwhelming and, oftentimes, employers and HR departments don’t have any advice to offer, either.

Employers Look Toward Insurance Brokers for Guidance

As a smart insurance broker, this ubiquitous lack of knowledge is your opportunity to guide your clients toward the best benefits packages, whether that involves enhanced disability coverage, ancillary benefits, a 401K plan —or even a combination of all of these.

What Employees Want Out of Benefits Packages

In order to better serve our clients and their employees, let’s look at what the Namely survey tells us about employees and benefits.

– Most employees (80 percent) place a premium on benefits, saying a good package keeps them more engaged in the workplace.

– More than half (57 percent) say they’d trade greater compensation for a better benefits package.

– Employees want the basics: Health, Dental, and Vision coverage rank top on the list of benefits employees want

– Seventy-two percent of employees also want a matching 401K

Clearly, employees want—and expect—a lot from benefits packages. With this in mind, why do they spend so little time choosing the package that can meet their needs? It’s easy to see that the insurance broker who steps in, able to meet their client’s needs and, subsequently, make an organization’s employees happy, more engaged, and likely to stick around, has gained a customer for life.

More than Just Benefits

Understanding your customers, though, is more than just knowing the kind of benefits they want. Let’s explore the intangibles of what employers look for in an insurance provider.

Personalized Service and Consultative Selling

We’ve established that choosing a benefits package —and managing insurance, in general—is complicated. An insurance broker who provides top-notch customer service and consultative selling to ensure the client is selecting the best benefits for their employees will win out.

Technology-driven Service

Today’s employees, HR directors, and business owners are accustomed to doing nearly everything online. We can host video conferences with clients and partners across the world with one click, buy car insurance online, and order lunch through our smartphone.

Today’s top insurance brokers should offer online rate quotes, along with the ability to pay bills, track claims, and have questions answered all from a computer with Internet access— or even a mobile device. A good insurance wholesaler makes these tools available to its brokers and select best-in-class carriers known for their technology and their overall service.

Discounted Prices

Choosing employee benefits means putting all the pieces together to reduce costs and increase employee satisfaction.
Of course, employers are also looking for the best employee benefits and the lowest premiums available. Brokers with The DBL Center, Ltd. have access to a wide range of top-rated carriers who can offer bundled policies to provide clients with the lowest rates possible.

We shop your policies around, saving you time, but you’ll be the one your clients thank when you write them a better policy at a lower rate than they had before.

Don’t Let Your Clients Settle

Even though most employees are willing to settle for the same benefits package year after year, smart business owners and HR directors will look for ways to increase benefits without increasing costs, as a way to improve employee satisfaction and retention rates.

As an insurance broker, you’re in the position to help by showing them what’s available. It’s time to let your clients know they don’t have to settle for less. They can enjoy the best service, lower premiums and more robust benefits when they let you show them their options.

Let The DBL Center help provide your customers with more in the way of employee benefits.