American General
American General Benefit Solutions, a business unit of American General Life Companies, has launched a new bundling program that offers savings for three of its most popular insurance products provided through American General Life Companies.
Under the multi-product solutions program, employers can provide their workers with 23 group and personal product choices—including term life, universal life, short and long term disability, dental, vision, limited health care, critical illness, accident, cancer and hospital indemnity—while holding down their benefits costs. Price adjustments are applied when employers include one or more employer-funded or employee-paid products with the employer-funded group dental, group term life or group long term disability plans provided through American General.
The price adjustment depends on the number of products in a bundled package and offers the greatest savings when three additional products are offered with the employer-funded plan. The bundled products could likely be handled through one application, making for a more seamless and efficient enrollment.
The multi-product solutions program excludes supplemental life, dependent life, accidental death and dismemberment, New York Disability Benefit Law, New Jersey Temporary Disability Benefit, EAP buy-up and group limited health care. Worksite requires participation of the greater of two lives or 25 percent of eligible employees. For life to be considered a qualifying product, the plan schedule must be salary-based or a flat plan of at least $25,000. If standard participation is not satisfied, discounts will be reduced in part or in their entirety.
