SickPay Plus Now Available
Glenview, Ill – February 3, 2016 – Combined Insurance, a leading provider of individual supplemental accident, disability, health, and life insurance products, and a Chubb company, today announced that its SickPay Plus® policy is now available nationwide. SickPay Plus is one of the company’s fastest-growing products, serving the needs of Americans who do not receive a single paid sick day when they are sick or hurt and can’t work.
“Nobody plans on getting sick or hurt, but the truth is many of us simply can’t afford to miss work. First-day coverage is one of the key reasons why SickPay Plus appeals to consumers,” said Jan Martin, Vice President, Product Innovation for Combined Insurance. “With seven out of ten Americans living paycheck to paycheck, Day One coverage is essential to stay on top of basic bills, such as rent, mortgage, food, and utilities. Many similar insurance products require waiting 30, 60, 90 days or even longer for coverage to begin. SickPay Plus provides benefits of up to $2,000 a month paid directly to the policy holder to help them take care of their and their family’s needs.”
American consumers have a real need for this insurance policy. About 40 percent of U.S. workers—45 million people—do not receive a single paid sick day, according to 2015 statistics from the U.S. Department of Labor’s Bureau of Labor Statistics. Some sectors of the economy have very high percentages of workers without paid sick leave. For example, 64 percent of workers in Natural Resources, Construction, and Maintenance industries don’t receive paid sick leave, according to the BLS. Additionally, 51 percent of workers employed by small businesses with fifty or fewer employees do not have paid sick days.
“Every day we talk to people who must choose between going to work sick or staying home to get well,” said Doug Abercrombie, Senior Vice President and Chief Agency Officer for Combined Insurance. “Our consumer focus groups revealed not only the need for the product, but the features that would make it work best for them. We incorporated those features, including healthy lifestyle discounts, into the final product. SickPay Plus is designed truly with the consumer in mind. For Combined Insurance’s dedicated Sales Agents, this also provides a great opportunity to potentially help customers through this product.”
SickPay Plus shows high rates of customer satisfaction. According to a most recent Combined Insurance Survey, 97 percent of those who purchased SickPay Plus and responded to the survey are satisfied or very satisfied with the product. Additionally, 97 percent of respondents would consider recommending the first-day coverage plan to a friend or family member.
To learn more about SickPay Plus, visit www.combinedinsurance.com/sickpayplus.
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News