Greetings from your agents at Chesterfield Insurers! We hope you are all doing well and getting ready for summertime fun!
We wanted to let you know about some benefits we have for your members that will help with retention. As volunteer agencies, your members join without expecting a paycheck. That is a given. But there are some things you can do for the benefit of your members and their families as a “thank you” for what they do that may make a difference about a member leaving or staying.
There are several different products out there that have a low per member cost for an annual benefit. We wanted to briefly describe them to you here. If you have questions or an interest, reach out to your agent for more details.
Group Life Insurance: Just like what you get at work, this is a life insurance product that costs about $131 per member per year. There is no age limit and no medicals. It pays $10,000 for a natural death, $20,000 for an accidental death and $30,000 for a line of duty death.
Critical Illness/Cancer Coverage: This is also a group benefit. The agency pays a set price per member per year for a stated amount of coverage. There are no medicals involved. If the member suffers a heart attack, stroke, organ failure or is diagnosed with cancer, the policy pays the chosen coverage amount. For example, for a $10,000 benefit, the cost is $140 per member.
Group Accident: Covers deductibles, co-pays and out of pocket costs for an accidental injury. The cost is $117 per member per year.
Short Term Disability: Covers a chosen benefit for 3 months when out of work. For example, for a $500/week benefit with a 14-day elimination period, it costs $90 per member per year.
We know it is hard to retain members. These are a few low-cost benefits you can provide your members to help keep them after you train them. Reach out for more information! Have a safe Summer!