New Jersey has some of the best mandatory temporary disability benefits (TDB) in the country for its employees, offering two-thirds of the employee’s weekly wages up to $615 per week for a maximum of 26 weeks. If you’re a New York Tri-state area insurance broker, you may wonder why you’d bother selling privatized TDB insurance to businesses in New Jersey.
Our servicing General Agency works in conjunction with preferred private insurance carriers we represent to find you better rates than the NJ Department of Labor, which fluctuates on an annual basis. But almost more important than the savings, by privatizing your TDB insurance offerings for certain customers and bundling it with other ancillary group benefits, you can lower your customers’ insurance premiums on all their benefits while increasing your commissions.
Sounds compelling, right?
At the same time, you’ll enjoy a higher quality of service through The DBL Center and our highly experienced back office staff who is here to serve yours and your clients’ needs. We’ll answer questions about claims, and always ensure you’re getting the best value in your insurance coverage for your clients.
Let’s explore some of the ways you can earn more commission with ancillary group benefits and privatized TDB coverage in NJ.
It’s no secret that many employees (and employers, for that matter) are upset by the affect the Affordable Care Act had on their healthcare coverage. Increased premiums, higher deductibles, and fewer choices in carriers may cause talented, in-demand employees in competitive fields to hunt for jobs with better benefits.
The only up-side is that ancillary benefits are now an easier sell. Employees might be paying more for healthcare coverage, but they can get a better value on vision or dental coverage – which may have, previously, been part of their healthcare plan.
Insurance brokers can save the day for business owners, CEOs, HR directors, and employees, with benefits that employees want at premium rates they can afford. At the same time, you’ll earn more commission because you’re selling larger benefits packages, without adding new customers. You’ll save time and increase your earnings all in one step, with The DBL Center beside you for support every stepof the way.
When you write NJ TDB policies with a private carrier through InsuranceWholesaler.net, you’ll enjoy the white label, white glove service The DBL Center is famous for. We become your full-service, back-office support staff, while your customers associate the stellar service with you and your firm. Your customers will get more flexibility in how and when benefits are paid, and you can even increase the amount of coverage with just a small increase in premium rates.
When you write your TDB insurance policies, plus ancillary benefits such as Group Life / AD&D, long-term disability, short-term disability, Dental and Vision through The DBL Center, you’ll earn additional discounts for your customers, with no extra work by you, the broker. Just like bundling your home phone, cable and internet under the same provider offers you discounts, or writing your home and auto insurance under one policy gives you lower rates, bundling employee benefits nets big discounts, happier customers – and overall higher commissions because you’re expanding your book of business with very little extra work.
If you’d like more information on how privatized TDB insurance in New Jersey can benefit you and your customers, contact The DBL Center.
by Michael Cohen