Deadline to Write Disability Benefits Across New England and New York Tri-State Area Approaches on April 1

Increase your productivity and close more sales before the disability benefits deadline.

Are you looking at your business 120 days out? What you do now will reap rewards in the next quarter. As the April 1 deadline approaches to write NYS disability benefits, as well as New Jersey TDB, Paid Family Leave in Connecticut, and PFMLA in Massachusetts, the work you do today – and what you’ve done throughout 2022 so far – will directly affect your second quarter results.

Sure, there’s only 30 or so days left until April 1 – not 120 – but there’s still time to make a big impact for your customers and boost your bottom line.

April 1, 2022, is the second quarterly opportunity in 2022 for New York business owners to switch or renew their short-term NYS disability benefits packages. They can also enhance benefits packages with enriched DBL, ancillary benefits like dental, vision, group life / AD&D, and accident benefits.  The same goes for businesses affected by statutory and paid family leave benefit laws in New Jersey, Connecticut, and Massachusetts.

Most business change these coverages or write new coverage lines on the first day of every quarter: Jan. 1, April 1, July 1, and Oct. 1.

So, you want to start taking these important steps to write new business, manage renewals, and write enriched DBL packages, along with ancillary benefits, in New York today. In New Jersey and New England, your focus should be on saving your clients money on their TDB and PFL as a door-opener to obtaining their ancillary benefits.

Many brokers in Connecticut cannot write PFL as a standalone benefit. The DBL Center can, but we can offer business owners in any state substantial savings by bundling statutory benefits with ancillary benefits.

We Can Handle It All

When it comes to employee benefits, there isn’t a lot we can’t do. We can write ancillary benefits and accident insurance:

• Fully funded by the employer, with the organization paying 100% of the premium
• By cost-sharing with employees on a 50/50 basis
• On a 100% voluntary basis through employee payroll deductions

Best of all, we can provide a simple executive carve-out for the owners and management. The only reason your clients would say no is if they simply don’t want the coverage. And in today’s tight labor market, employee benefits are table stakes – not enhancements. Employees expect a certain level of benefits, including ancillary coverage, before they will even consider a job.

If you’re the owner of an insurance agency dealing with employee benefits of any kind, you may want to assign these tasks to the appropriate members of your team. And if you’re an insurance broker reading this, you can take action right now to improve your bottom line for the spring.

If you’re a client of The DBL Center, you’re in luck. We act as your back-office staff to help you manage new business, renewals, and cancellations. You also have access to our online Broker Dashboard: Net Revenue Tracker to put all the information you need at your fingertips.

Let The DBL Center manage your book’s retention so you don’t have to worry about hitting new business requirements or persistency requirements with carriers. Meanwhile, writing your policies through The DBL center, you’ll earn the same commissions or more.

Make a plan and start working that plan throughout March to give as many business owners as you can the opportunity to get the best premium rates and better, more flexible benefits with enriched DBL and ancillary benefits.  Rely on The DBL Center to help you make more money now so you can enjoy your summer and relax more during the 4^th quarter. That will put you looking at new business in August, which is 120 days out from January 1 renewals. You focus on new business and let your insurance wholesaler manager the rest.

1. Review your Broker Dashboard and begin by approaching current cancellations and pending renewals.

Renewals are the low-hanging fruit when we’re talking about statutory disability benefits across the Northeast. Your goal should be not just to keep these clients with an easy renewal, but showing them the tremendous advantage of offering enriched DBL, ancillary benefits, and accident insurance to their workers.

Especially in today’s highly competitive labor market, every additional perk or benefit companies can provide their workers can help improve employee satisfaction, boost productivity, and reduce attrition rates.

2. Make sure to ask for a complete census and copy of the group’s latest bill in order to write benefits for Q2, 2022, which begins April 1. 

States require an employee census detailing the number of lives, male and female, in an organization in order to write PFL, TDB, or DBL coverage. Obtaining that census form is a great way to start a conversation with your clients.

3. Approach new business with an eye on a total benefits package to help them recruit and retain talent.

If you’ve been continuously prospecting through inbound marketing, local advertising, or in-person networking, you probably have many leads in your sales funnel. Working from your hottest prospects – those closest to the bottom of the funnel – set up meetings now to show them how much they can save by writing their ancillary employee benefits with you.

Because The DBL Center leverages our relationships with top carriers, we can provide insurance brokers with the lowest rates and best benefits on enriched DBL and ancillary benefits including dental, vision, Group Life / AD&D, and accident insurance.

So, you want to start taking these important steps to write new business, manage renewals, and write enriched DBL packages, along with ancillary benefits, in New York today. In New Jersey and New England, your focus should be on saving your clients money on their TDB and PFL as a door opener to obtaining their ancillary benefits.