OneAmerica® Speed-to-Market Solutions Fill a Large Need for Small Businesses
SBS is available in a variety of options as either voluntary (through payroll deduction), or as an employer-funded benefit. For brokers, SBS capitalizes on an often overlooked need in the market, delivering ease of service for small businesses with limited resources. SBS also proves impactful for brokers looking to diversify their portfolios in the most efficient manner possible.
"Employer groups with less than 100 lives should have the same opportunity to provide their employees with the financial protection that larger employers can provide," said
SBS is a standout because:
- A quote can be generated within minutes
- No census data is required, as these are guarantee-issue solutions
- Rates are predetermined for qualified industries
- A bill and certificate can be issued within five business days, once required information has been received in good order.
"There is considerable flexibility with our Small Business Solution," Pete added. "We can offer voluntary and employer-funded benefits with various elimination periods and durations. In addition, for employer-funded packages, we have several tax-choice options available."
Nationally, disability insurance is currently in place in only 23 percent of small businesses, and group life insurance is offered in just 28 percent.
With the current small business climate, now is an opportune time to increase those percentages, Pete noted. Expanding this niche market encourages employers to make a positive impact with their employees by providing them with core foundational products that enable paycheck protection in case of an incident that leads to injury or loss of life.
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"The OneAmerica SBS provides ease of implementation plus systematic guidance for brokers to succeed in this underserved area," Pete said. "Offering high-quality benefits may also enhance the small business owner's ability to attract and retain employees."
Build your business with OneAmerica: https://www.oneamerica.com/financial-professionals/financial-professionals
OneAmerica® is the marketing name for the companies of OneAmerica. Products issued and underwritten through American United Life Insurance Company® (AUL), a OneAmerica company.
About OneAmerica®
A national leader in the insurance and financial services marketplace for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/about-us/companies-of-oneamerica.
1 Source: LIMRA research, "Hidden Currents: Under-the-Surface Changes in the Employee Benefits Market,"
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SOURCE OneAmerica
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