As Mother’s Day and Father’s Day approach, we might be thinking about our loved ones and the ways we care for our own families.
Many of us in the sandwich generation, late millennials and GenX, have already faced the loss of parents or may be caring for aging parents. Although these holidays are a joyful time to gather with family, they also might bring us in touch with our own mortality.
Are you leaving behind the means to care for your family when you’re gone? Do you know how to preserve generational wealth to pass on?
Whatever your income level, you might consider ways to minimize the tax burden on your loved ones while ensuring they can enjoy the same standard of living they did when you were alive.
Insurance brokers have these concerns, just like anyone else. But there’s a key difference. In addition to taking charge of your own financial planning, you’re in a unique position to help your clients address their concerns.
And, let’s be honest, you can diversify revenue streams and increase commissions to secure your future through voluntary benefits like Group Life.
Standard Security Life Introduces New, Accessible Group Life Plan for Any Employee
With this in mind, The DBL Center is excited to announce a new offering in New York from one of our preferred carriers, Standard Security Life.
Standard Security Life’s new Group Life benefit offers premiums as low as $3, with coverage up to $15,000 for companies with 1 to 49 lives. Ideal for solopreneurs and small businesses, the benefit can help cover funeral costs or provide the start of a nest egg for children at an extremely low premium rate.
For brokers, this is an easy upsell for DBL and enriched DBL policies, which will offset some of the revenue lost from PFL rate decreases over the past two years.
For employers who might be considering offering this benefit, it’s important to know a few things:
- Benefits can be funded by the employer, employee, or on a cost-shared basis
- Employer-provided Group Life with coverage less than $50,000 is not taxable
- Death benefits are not taxable for beneficiaries, in most cases
Explore Your Options with The DBL Center
Understandably, $15,000 in coverage isn’t a lot of money for most people. But neither is $3 a month to secure life insurance coverage. It’s an easy policy to write that can help you build trust with clients and opens the door to writing other ancillary benefits.
Through The DBL Center’s vast network of preferred carriers, we can also write plans for companies with more lives or plans with enhanced coverage options far beyond $15,000. We serve New York, New Jersey, Massachusetts, Connecticut, and virtually every state within and beyond the Northeast.
All your clients need to do is provide us with a census of male and female lives, and we will shop around to find you the best options at the lowest premiums.
Let The DBL Center Do the Heavy Lifting
Let us help you analyze coverage gaps for your clients and pinpoint all the ways they can save money while providing enhanced employee benefits.
Things are changing, once again, in New York with DBL rates set to increase substantially. Employers will be looking for cost-effective benefits to help with recruiting and retention.
More than 102 million American adults said they need life insurance or would like to increase their coverage levels, according to a 2024 study from the Life Insurance Marketing and Research Association (LIMRA). That’s roughly 42% of the population.
As your wholesale general insurance agency, The DBL Center is here to help you close that gap and increase your commissions.
