The New York State Disability Benefits Law (DBL) mandates every “covered” employer (employers with one or more employees) to provide private disability insurance in New York to employees who are ill, injured off-job, or pregnant. To stay in compliance with the law, the employer can purchase private disability benefits insurance in New York either from an authorized insurance carrier or through the New York State Insurance Fund (NYSIF).
Many employers don’t know of the tremendous advantages of bundling an enriched DBL policy with other, highly desirable ancillary benefits in New York State. As successful insurance brokers who emphasize customer service, it’s important for you to remind them of the top reasons they should privatize DBL in NYS.
Privatize DBL for Added Income Protection
You know from shopping policies with The DBL Center for years that your customers can save money, get better coverage, and enjoy the white glove service you provide as a broker with The DBL Center as your back-office staff. Enriched DBL especially benefits the high earners in a company, since they are getting more bang for the buck with the benefit. The extra cash may help keep them from tapping into investments like stocks (no one wants to sell when the stock market is low!) or borrowing against their 401K. Keep that money in savings where it’s earning passive income for the future and use the benefits you’ve been paying for anyway.
Enriched DBL enables employers and employees, alike, to receive a weekly maximum benefit of up to $850, with optional in-hospital coverage available through select carriers.
But the income protection isn’t the only reason New York State employers should consider enriching DBL today.
Privatize New York Disability Benefits Law Coverage to Improve Employee Recruiting and Retention by Bundling Ancillary Benefits
Many employers today realize that highly capable workers want intangible benefits like flexible hours, telecommuting options and – above all else – a clear direction of their job expectations with guidance from their supervisors.
But when it comes to benefits, employers might be surprised to realize that traditional – and practical – benefits win out over other employee perks. In a study done by staffing agency Robert Half, employees listed paid time off, dental insurance, and vision insurance as three of the top five benefits they’d prefer. The state of New York recently forced employers’ hands with mandated New York State Sick Leave.
To stand out in a competitive market, you need to be able to offer ancillary benefits like vision and dental at a reasonable cost. According to the survey, 71% of employers offered dental insurance while 63% provided vision coverage.
When employers write NY Disability Benefits insurance through a private insurance carrier, they can bundle ancillary benefits at a low cost. Plus, these insurance options can be voluntary and employee-funded, costing the employer absolutely nothing out-of-pocket. Consider hosting a webinar to get in front of employees or the HR team and explain how much they can save with enriched DBL and ancillary benefits from your insurance agency and you’ll make friends for life.
After all, who wouldn’t want to save money on their insurance and necessities like dental care and eyeglasses?
Why Insurance Brokers Should Choose DBL Center for New York Disability Benefits Coverage
Are you new to DBL Center? DBL Center works for its clients by offering quality assistance on the best NY State Disability Insurance Benefit packages and providing top-notch white-glove service.
With our instant, binding application, we help you prepare quotes from multiple carriers in a matter of minutes. Compare rates, diversify your portfolio, and earn more commission while DBL Center serves as your back-office support staff to manage and maintain your policies.
Plus, you’ll gain access to our state of the art Broker Dashboard to track your cancellations, upcoming renewals and commission.