America's Benefit Specialist May 2023

PRODUCT NEWS

purchased by employers and employer-sponsored health plans managed by Humana. The Franklin Health Plan helps fill the gap left by Huma na by giving employers a competitive alternative through a nationally leading broker. The Underwriters Group is part of Higginbotham, one of the largest independent insurance brokers in the U.S. It is the only broker of the Franklin Health Plan in Kentucky. Stuart Ferguson, managing partner of Higginbotham’s Kentucky region, said, “The Franklin Health Plan not only serves employers that were with Humana, it’s a great option for any employer with 25 to 500 employees. It functions much like a fully insured plan, but it gives employers an op portunity to earn back a portion of their premium.” The Franklin Health Plan is now available for plan years ef fective immediately. Visit www.higginbotham.com for more information. AFLAC ADDS BENEFICIARY COMPANION SERVICES TO ITS GROUP PREMIER LIFE ABSENCE DISABILITY SOLUTIONS PORTFOLIO When a loved one passes away, paperwork should be the least of a survivor’s worries, but beneficiaries work with multiple companies and institutions, making many decisions, when settling affairs after a family member or close friend passes. To address this challenge, and to add value for its customers, Aflac is partnering with Iris, powered by Generali, to provide Beneficiary Companion services for individuals insured by Group Life Insurance from Aflac’s Premier Life, Absence and Disability Solutions. Beneficiary Companion ser vices assist individuals and their beneficiaries with navigating the often-complex administrative details related to death, including monitoring and resolving identity information and potential theft.

While individuals are most impacted by grief, workplac es can also be affected. According to the Grief Recovery Institute, the cost of workplace grief due to employees’ losses of loved ones is estimated at $37.5 billion annually, and the grieving of survivors can be extended particularly as situations like identity theft add to the challenges of those left behind. Additionally, AARP reports that the identities of nearly 2.5 million deceased Americans are stolen each year, resulting in additional time, cost and emotional strain to the survivors resolving the theft. “End of life is a very difficult topic to discuss, but the reality is that there are many challenges that arise with the death of a loved one. We believe stress associated with complicat ed paperwork and the potential of crimes like identity theft shouldn’t be among them,” said Scott Beeman, senior vice president, Premier Life Absence Disability Solutions. “Bene ficiary Companion enables employers to offer peace of mind to employees through assistance that helps their workforce with the practical matters of life, including closing a loved one’s affairs during an already difficult time.” In addition to being available to the beneficiary of the insured employee, Beneficiary Companion is available to em ployees to use in the event of the loss of a loved one if they have the legal authority to act on behalf of the deceased. This includes the beneficiary, executor of the estate and ben eficiary representative. Key features include: • guidance on how to obtain death certificate copies (neces sary for performing final notifications) • 24/7 live information and advice from dedicated beneficia ry assistance coordinators • a guidebook that serves as a handy reference tool for bene ficiaries navigating the aftermath of a loved one’s death • beneficiary assistance coordinators to manage the assis tance process, which includes notification to the Social Security Administration, credit reporting agencies, credit card companies and other financial institutions. For more information, visit www.aflac.com.

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