06/21/2010
Regence Life and Health offers Voluntary Life sales promotion
Starting July 1, Regence Life and Health will offer a 10% discount to the rate for Inforce Group Life Insurance policies that choose to offer Voluntary Life Insurance to their employees.
This promotion will be effective for groups choosing to implement Voluntary Life between July 2010 and January 2011. New Voluntary policies effective January 1, 2011, will be considered eligible for this promotion. The implementation date of Voluntary Life does not need to match with the renewal date of the existing Group Life Insurance policy.
Eligibility criteria for Inforce Group Life Policies:
- Applies to new Voluntary Life plans attached to Inforce Regence Life and Health non-experience rated, non-contributory life cases under 500 lives.
- When a group agrees to add a new line of Voluntary Life to an Inforce Regence Life and Health employer-paid life plan, the employer-paid life rate will be reduced by 10% and is effective for the next plan year up to a maximum two-year rate guarantee.
- New Voluntary Life plans will be offered at our manual rates with a 25% participation requirement; Mandatory Meetings have a 75% employee participation; Personalized Enrollment Forms are required at enrollment.
- Policy discounts will not be amended until all enrollment forms have been received in Underwriting and participation percentages are verified. The effective date for the discounts will match the effective date of the added Voluntary Life.
- The policyholder has the option to have the Voluntary Life policy anniversary date match the anniversary date of the Inforce employer-paid life, or request to have the anniversary date of the employer-paid life amended to match the newly added Voluntary Life.
There is also a PDF version of the flyer available for your use.
Please ask your Regence Life and Health Sales representative for more information or for a quote on your existing groups.
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