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Friday, March 15, 2013

Implementation Success with Stand-Alone Unemployment Insurance

At a recent Best Practices Panel (BPP) presentation, Insurance Product Marketing chair Sara Webb shared some of the successes BB&T Insurance Services has had with implementing a stand-alone unemployment insurance product. The key market for this product are clients with well-paying jobs but who may be financially vulnerable to job loss. Some examples of good candidates include:
  • Single Parents
  • Households with a single-income or where income is concentrated in one partner
  • Middle-aged professionals who care for elderly parents
  • People experiencing life changes – births, weddings, divorces, etc.

In making the case to clients, BB&T Insurance Services points out that job loss is much more likely than disability. Most upper-income professionals think that state unemployment benefits will cover them; however, state benefits may not even cover half of a salary. As a result, many professionals are not adequately protected.

Please join us for upcoming ABIA Best Practices Panels:

March 21, 2:00 PM EST Community Bankers Panel
Insurance Carrier Access – How do the smaller agencies compete for the favored carriers?
Panel Chair Brian Duffy with RSI Insurance Agency
Rick Leonelli with Glens Falls National Insurance

March 28, 2:00 PM EST Compliance Panel
Are You Ready for An Audit?
Chrys Lemon and Adam Maarec with McIntyre and Lemon PLLC