America's Benefit Specialist August-September 2022

PRODUCT NEWS

rience that evolves over time to a concierge approach, with a dedicated team providing support with faster turnaround times for brokers and access to various product dis counts. With three levels of recognition, the loyalty program adds value without taking away traditional, existing service. With this expansion, Power of YOU is now available to brokers in all markets served by BenefitMall. For more information, visit www. benefitmall.com. AFLAC EXPANDS CONSUMER DIRECTED PORTFOLIO Aflac has introduced two consumer-direct ed products: Aflac Final Expense Whole Life Insurance and Aflac Medicare Supple ment Insurance. These products—under written by Tier One Insurance Company, a subsidiary of Aflac Incorporated—are part of a robust portfolio of supplemental cover age options for those unable to access Aflac products through the workplace. With Final Expense Whole Life Insur ance, policyholders can help protect their loved ones’ financial security by helping to pay for end-of-life expenses not covered under Medicare and other programs, while encouraging families to address uncomfort able discussions about final expenses. “Processing the loss of a loved one takes an emotional toll on families and many of ten face financial stress while grieving. It is important for families and individuals to be prepared in order to help alleviate the finan cial burdens placed on loved ones during intensely sensitive times,” said Jeramy Tipton, SVP distribution expansion and consumer markets. “End-of-life medical, legal and funeral costs can be substantial. Aflac Final Expense is designed to help take that weight off grieving families’ shoulders so they can focus on what matters.” Aflac’s Final Expense Whole Life Insur ance is available in two options: the Level Plan and the Modified Plan. Both plans in clude a guaranteed level premium—mean

ing premiums will never increase—and a guaranteed death benefit paid to the bene ficiary while the policy is active. Plans are available for individuals age 45 to 80. Benefit amounts range from $2,000 to $50,000, de pending on the plan selected. The level plan also offers the option to elect accelerated and accidental death benefit riders, as well as a children’s term insurance rider. While Medicare provides coverage for health-related expenses, it doesn’t cover all costs—such as copayments, coinsurance and deductibles. Because consumers need a way to help manage expenses during retirement, Aflac introduced its Medicare Supplement Insurance policies to help fill some of these coverage gaps. With Aflac’s Medicare Supplement Plans A, F, G and N, consumers will have the freedom to choose any provider that accepts Medicare at a convenient location that best meets their needs, without precertification or pre-authorization. Plan benefits remain the same year after year and are portable, so if policyholders move or travel, their coverage goes with them. Find out more at www.aflac.com. VOYA FINANCIAL OFFERS ENHANCED CRITICAL-ILLNESS INSURANCE Voya Financial has enhanced its critical-ill ness insurance offering to help employers address the evolving health and wealth needs of their employees. The enhance ment—which provides new benefit options in the event of a covered infectious disease diagnosis and/or resulting hospital stay— comes at a time when concerns of getting sick and incurring unexpected medical costs have become a major focus for Amer ican workers. With Voya’s research showing that nearly half of Americans (48%) say that the pandemic has made them think more carefully about the types of benefits offered by employers, many companies have

BENEFITMALL CONTINUES EXPANSION OF LOYALTY PROGRAM

As part of its commitment to providing an easy benefits-selling experience for brokers, BenefitMall is expanding its Marketplace of fering to all brokers in its Northeast region and its Power of YOU loyalty program to brokers in all markets. The expansion builds upon a service rollout that began in mid-2021 with pilot programs and added a wave of new markets in April 2022. Just 18 months out from the initial pilot programs, BenefitMall is on pace with expansion goals for 2022-23. By rolling out to new markets ahead of the fourth quarter, BenefitMall is making it possible for brokers and their employer group clients to prepare for the busy annual enrollment season with a completely digital experience from benefit quotes to enroll ment to year-round benefit administration. Marketplace, powered by Ease, levels the playing field for brokers by giving them access to secure technology that would otherwise be too expensive and time-con suming for them to deploy on their own. A completely digital solution, Marketplace provides a paperless, secure, and seamless experience across every point of client engagement, from new quotes to annual renewals. By providing full-service support that includes pre-sale quoting, point-of-sale enrollment and post-sale census manage ment support, Marketplace can deliver faster processing and turnaround times due to digital automation and complete enroll ment data. With this rollout, Marketplace is now serving brokers across the Northeast, including Connecticut, New Jersey, New York and Pennsylvania. BenefitMall’s broker network already accesses Marketplace in California, Colorado, Florida, Georgia and Texas. BenefitMall’s Power of YOU loyalty program is designed to support brokers as they grow their business, with service expe

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