Growth Opportunities Await with Protective
Growth opportunities are within reach in the executive benefits space and it’s easier than you think with Protective’s Executive UL. Why? This group term carve out product provides companies with a cost effective way to recruit and retain employees and is guarantee-type issue underwriting. In addition, the third-party administrator (Dye and Eskin) does the quoting, implementing and administration of the plan.
Producers need to simply identify the opportunity and ask the decision maker if they would be interested in looking at an executive group term carve out plan to recruit and retain high quality employees. If the answer is yes, Dye & Eskin would need a census to quote the case and would then start working with the company on all the details. The producer can choose how much or how little to be involved in the process at that point.
Target Agents & Advisors
· Work in estate planning, executive benefit, employee benefit, business, or P&C market
· Know executives (CEO, CFO, HR Manager) who work for large white-collar companies
· Have clients who work for a company with over 25 executives
Target Companies
· White Collar (i.e. Health Care, Law, Accounting, Retail, Tech/Software, Consulting, Education, Engineering, Financial Services, etc.)
· 25+ Executives
· Salary 100k+
Product Overview
· Designed to carve-out executives from their existing group term plan and replace that coverage with individually owned universal life insurance
· Individual policies so they are portable
· Guaranteed-Issue type underwriting (no medical exam, no bloodwork, only 2 questions)
· Minimum premium design
· Minimum premium schedule is guaranteed for five years
· Easy to administer (employee info is managed with a census and premiums are paid with a single electronic fund transfer)
· Minimum of 25 lives
The Product Guide and Prouder Guide are attached as well as a marketing piece that details 3 case designs to get the wheels turning. If you aren’t promoting Executive UL to your producers, let’s schedule a few minutes to talk so you can take advantage of this opportunity.