Walczak Associates
Disability Insurance - Group

Providing employee benefits such as life and disability insurance helps bring stability to a company. As good employees and key executives are the cornerstone of many successful businesses, benefits can be a critical element to the company's continued success. Walczak Associates, Inc. has been successful in helping businesses in New York and New Jersey with their group life and group disability insurance needs.

What factors need to be considered with a group life and/or group disability policy?
  • Does your company wish the same basic coverage for all employees, wish to carve-out benefits for key executives, or some combination of the two?
  • Will the amount of insurance be the same for all employees or be based upon a percentage or multiple of employee salary?
  • Is supplemental insurance, allowing employees to purchase additional insurance for themselves or family members, being made available?
How do insurance carriers determine rates and insurability for a group policy?
Most insurance carriers offering life and/or disability insurance require a census. An insurance underwriter reviews the employee census along with the company's industry classification in determining rates and insurability. As such, proposals from carriers can vary quite extensively. For example, a company that has mostly young employees will receive a lower rate than a company with an older staff.

Does it make any sense for our company to consider alternatives to our current policy?
Replacement of existing plans is a common occurrence. As the company's employee population and executive structure changes, a periodic review of the existing plan is highly recommended. In addition, over the past few years, insurance rates have become increasingly competitive. Because of the continued increase in life expectancy, rates have dropped dramatically for many life insurance carriers. Disability carrier's rates have also changed, sometimes for the better, for a particular industry. As a result, replacement of policies often makes sense.

We at Walczak Associates, Inc. are knowledgeable with group life and group disability insurance products. We're happy to help you determine your wants and needs, shop the market, conduct enrollment meetings and partake in employee education.


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