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Value-Added Insurance

Developing a comprehensive benefits package can be daunting because of limitations in staff time and expertise. You have enough on your plate managing a business and keeping the doors open. You may not have time to manage a comprehensive benefits package or research value-added services.

Work with a trusted financial services partner.

Your financial services partner has options that can relieve the strain of managing retirement plans, insurance policies, worker claims and more, so you don't have to commit extra staff. Your financial services partner can also uncover affordable perks you may have overlooked.

Consider life insurance.

One affordable perk is life insurance. The two broad categories of life insurance are term and permanent life insurance.

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Term insurance covers employees for a specific length of time and pays a death benefit to the beneficiary if the policy owner dies while the policy is in effect. Permanent insurance lasts for the employee's entire life and includes an investment component. The policy generally pays dividends and builds a cash value for the employee that is tax favored.

Discover disability insurance.

You may also consider disability insurance. Group short-term and/or long-term disability insurance can replace a portion of an employee's income if that person becomes ill or injured and unable to work. Typically, an employer's plan will replace up to 60 percent of the employee's salary.

Working with your financial services partner to include these value-added insurance products as part of a comprehensive benefits package can help keep your employees satisfied and engaged by knowing they are covered if the unthinkable happens.

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