Annuties
Understanding Annuities: Secure Your Financial Future
Welcome to RL SANGSTER & ASSOCIATES, your comprehensive guide to understanding annuities. Annuities are long – term investment products designed to provide a steady stream of income during retirement. Whether you’re a retiree looking for a reliable income source or someone planning for the future, annuities can play a crucial role in securing your financial future. In this article, we’ll explore the basics of annuities, their types, benefits, and important considerations.
TYPES OF POLICIES
Accident
Insurance
Cancer
Insurance
Critical Illness
Insurance
Dental
Insurance
Disability
Insurance
Hospital Confinement
Insurance
Life
Insurance
What are voluntary benefits?
Sometimes called supplemental insurance, these benefits enhance your employees' medical insurance to help prepare them for life's unexpected challenges, like a sudden illness, injury or accident. Payable to the employee, they can be used for things other insurance may not cover.
CO-INSURANCE OR CO-PAYS
REPLACING WAGES OR SAVINGS
HOUSEHOLD BILLS
75%
of employees said that access to benefits through their employer is more important today than ever before.**
**Prudential Financial, 2020 Insights on Open Enrollment, August 2020.
...benefits make all the difference.
Keeping your best employees engaged. Attracting new talent. Both are key to the long-term success of your business. So how can you differentiate your business in a competitive job market?
Voluntary benefits can help.
Keeping your best employees engaged. Attracting new talent. Both are key to the long-term success of your business. So how can you differentiate your business in a competitive job market?
RL Sangster & Associates provides benefits that your employees want for those unexpected moments in life, whether that's an accident, illness or injury.
DISABILITY
Provides financial protection to cover income loss from a covered disability.
Individual and Group Short Term Disability: Replaces a portion of your
employees’ income if they have an accident or illness and can’t work. Optional features include protection for psychiatric and psychological conditions and waiver of elimination period for hospitalization.
LIFE
Provides financial protection and peace of mind for an employee’s family
in the event of a death.
Individual Term Life: Term life is ideal for high demand working years. Flexible benefit design offers four term options (10-, 15-, 20- and 30-year), family coverage and a set death benefit payment. It can be renewed or converted to a whole life policy.
Group Term Life: Flexible benefit designs with both employer and employee-
paid options. Allows employees to purchase additional coverage at group rates. It’s portable and convertible to a whole life policy under certain conditions.
Individual Whole Life: Provides protection for a lifetime. Features guaranteed level premiums and increasing cash values over time. Option to increase coverage on the second, fifth and eighth year of the policy’s anniversary.
BENEFITS AT A GLANCE
Accident
Insurance
Cancer
Insurance
Critical Illness
Insurance
Dental
Insurance
Disability
Insurance
Hospital Confinement
Insurance
Life
Insurance
80%
of all employers recognize voluntary benefits and services as an important part of their employee value proposition.
Source: Willis Towers Watson, 2018 Emerging Trends: Voluntary Benefits and Services Survey, 2018.
DENTAL
Provides coverage for a wide range of dental services,
from routine cleanings to root canals. There are no waiting
periods for preventive or basic services, such as fillings
and simple extractions. Offers additional savings through
a large national network of providers. Options available for
orthodontia, vision and an annual maximum rollover benefit.
ACCIDENT
From a fall to a car accident, this coverage offers a range
of benefits to help cover medical or non-medical related
expenses due to a covered accident.
Individual and Group Accident: Provides benefits to help
cover initial care, such as ER visits or x-rays, as well as more serious needs, such as fractures and dislocations. Includes follow-up care, like doctor’s visits, and physical therapy to assist with recovery. Optional features include active lifestyle benefits and wellness.
SPECIAL RISK
Pays lump-sum benefits for a diagnosis of a critical illness
or cancer, as well as ongoing benefits for treatment.
Individual and Group Cancer: Provides benefits for a cancer diagnosis and treatment. Option to add cancer screening benefit.
Individual and Group Critical Illness: Provides lump- sum benefits for a covered critical illness, such as a heart attack or stroke. Optional features include cancer treatment, cancer reoccurrence and a subsequent diagnosis benefit. Group critical illness also has a heart benefits rider and an infectious diseases rider available.
HOSPITAL CONFINEMENT
Medical Bridge, also called hospital confinement,
provides benefits to help cover the cost of a hospital stay
and other medical procedures, regardless of what health
insurance pays.
Individual and Group Medical Bridge: Provides benefits
for a range of procedures and medical events, such as
hospitalization, surgeries, diagnostic procedures, ICU and wellness screenings.
What is the difference between Individual and Group benefits?
INDIVIDUAL BENEFITS
- Employee-owned
- Rate stable
- Portable (employee can continue coverage after leaving the company)
- Coverage is guaranteed renewable
- No minimum participation requirement
GROUP BENEFITS
- Employer-owned with flexible underwriting
- Guaranteed-issue options
- Rate flexibility
- Limited portability options
Common features across
multiple products¹
- Coverage is available for spouses and eligible dependent children
- Guaranteed issue with easy participation requirements2
- Benefit is paid directly to the insured3
- Employees can continue coverage with no increase in premiums if they retire or change jobs
- Employees may receive benefits in addition to other insurance benefits
- Premiums can be deducted from payroll for easy administration
- HSA compliant
Learn more about what
we have to offer at
RL SANGSTER & ASSOCIATES
Service at every step
We make account setup, enrollment, billing and claims easy. And we have a team ready to help when you need it.
Personalized benefits counseling
Our benefits counselors can meet with your employees individually to create a personalized benefits solution that fits their needs now and in the future.
A trusted partnership
As your business and employees’ needs change, we ensure that the support we provide changes and adapts, too.
Contact Us
We would love to speak with you.
Feel free to reach out using the below details.
RL Sangster & Associates
ACCIDENT, CANCER, CRITICAL ILLNESS, AND HOSPITAL CONFINEMENT INSURANCE ARE LIMITED BENEFIT POLICIES.
1. Eligibility may vary.
2. Benefits may be subject to a preexisting condition provision.
3. Except dental and vision.