Consolidated HR is a full-service, nationwide human resources outsourcing firm specializing in payroll, employee benefits, and more. “We work with a variety of different firms, ranging from small family ran businesses, to larger multi-state companies,” says CHR Benefits Supervisor Delores M. Torres. “We help our clients focus on growing their businesses while we help with back-end HR, payroll, and benefits.”
DBL Center has been providing the short-term disability policies for CHR clients in New York and New Jersey for many years.
When Torres connected with DBL Center’s Vice President of Ancillary Sales Lori S. Rose, they decided it was time to explore ways to provide CHR clients with even more value by offering Group Life insurance and other ancillary lines of coverage.
DBL Center started by moving CHR’s existing group life insurance lines to another carrier to provide better benefits and lower premiums.
Working with DBL Center gave CHR access to lines and pricing the HR outsourcing company may not have gotten on its own and helped ensure all the paperwork was in compliance. Access to DBL Center’s exclusive Broker Dashboard can help CHR track policy renewals and revenue moving forward.
The next step was reviewing CHR’s open enrollment files to give CHR clients a chance to opt in to these voluntary, employee-funded benefits.
DBL Center’s legendary service and support helped Torres tackle an arduous task.
“The support and follow-up from Lori Rose has been phenomenal,” Torres says. “She has really helped reduce my stress. With it being the end of the year and such a busy time for everyone, she’s been so understanding.”
Group Life insurance may be a hard sell, so it’s important for brokers to convey to employers that these benefits can be offered at no cost to the company.
“Our clients tend to downplay the ancillary lines,” Torres says. “We have to explain that they can make it available to their employees with no out-of-pocket costs to the company.”
It helps to emphasize that voluntary benefits like Group Life can aid in recruiting and retention, especially for companies looking to attract the next generations of talent.
“Employees in their mid-30s and younger are more open to exploring what else is available in the way of employee benefits and they want the extra lines of coverage,” Torres observes.
Torres’ assertion corresponds with a recent Pew Research study that shows millennials to be the most risk-averse generation since The Great Depression. As millennials finally start paying off their college loans, getting married, and buying houses, purchasing life insurance is a smart, low-risk step to ensure their family’s security if something should happen to them. Other ancillary lines of coverage, such as dental and vision, can help them save money on day-to-day or emergency expenses.
Likewise, Generation X employees can benefit from life insurance investments as they age and have more responsibilities, including a mortgage, college costs for their children, and even the expense of caring for aging parents.
“The follow-up we have to do to show our clients the importance of ancillary benefits can be overwhelming,” Torres says. “But DBL Center understands the hurdles we have to overcome and is always there to help with information and back-office support.”
In the end, it’s worth the effort.
Group Life insurance and ancillary benefits can help brokers and HR firms like Consolidated HR expand their book-of-business while helping their clients’ employees secure a better financial future for their families.
by Dawn Allcot