Companion Life Insurance Company’s Defined Contribution Plan is an innovative approach to providing Basic Life/AD&D, Voluntary Life, Short Term Disability, Dental and Vision Benefits. Defined Contribution – a set amount the employer contributes to premiums for employee benefits. This approach has numerous advantages, because it benefits both the employer and the employees.
ADVANTAGES Employer Sets Budgetable Contribution Amount Employees Choose the Benefits They Need Using the Employer Contribution No Participation Requirements* Two-Year Rate Guarantee $100,000 G.I. for Voluntary Life All Other Benefits are Guaranteed Issue Use With Online Enrollment Solutions.
Costs that FIT an Employer’s Budget Employers choose the amount they want to budget for employees’ benefits.
Benefits that FIT an Employee’s Needs Employees choose Group Life, Voluntary Life, Short Term Disability, Dental or Vision benefits that best fit their needs. If the benefits they choose cost more than the employer’s Defined Contribution amount, the employee pays for the additional cost through payroll deduction.
Great FIT with Enrollment Technology or a Private Exchange Enhance participation by offering the Defined Contribution Plan on an electronic enrollment platform or a private exchange.
Contact me to learn how we can put this to work for you and your client.
(614) 890-7373, Ext. 102