Talking About Financial Matters That Affect You and Your Organization
Voluntary Benefits - Parachute
Dec 19th, 2019
Organizations are challenged to keep their benefit plan offering relevant to ever changing workforce needs. One of the greatest needs is the protection against unexpected death or illness. While group benefit programs are intended to provide protection, they are often not enough for many plan members. The financial strain of trying to provide the best protection for all plan members is often too great. The additional administration and compliance of offering optional benefits to members is often not worth the risk. Enter Parachute.
Selectpath is a proud supporter of Parachute powered by Munich Re. This digital voluntary Life and Critical illness platform puts the power of guarantee issue coverage in the hands of your plan members while managing all the transactional work with zero employer involvement beyond marketing the plan. It is a simple way to expand your benefit options without increasing your budget. The streamlined on-boarding, customized communications, and intuitive technology tools help members access affordable flexible coverage at competitive rates. Convenient payment options along with a dedicated support team makes sure the easy to understand options are clear to members which helps facilitate better results.
This program is available to organizations with more than 20 employees and can offer up to $100,000 of Life Insurance and $30,000 of Critical Illness coverage without medical underwriting.
Reach out to your advisor or client care team member to learn more about how you can get the added value of Parachute platform to your plan members.