| A key aspect for attracting and retaining valuable employees is to offer a benefits package that includes both health and income replacement coverage. By assessing employer and employee needs and objectives, a benefits package can be developed that supports the organization’s values. As an advisor, it is important for you to communicate the value of the employer sponsored benefit plan to all employees.
Master Financial maintains relationships with all major providers of insurance and financial products throughout the industry. Our relationships enable you to offer state-of-the-art products and services that meet their current and evolving needs. We strive to ensure that your clients receive the maximum value from their employees by structuring a benefit-rich package with a cost sensitive mindset.
Medical Coverage:
By far, the most vital and important benefit that can be offered to one’s employees is an extensive health insurance program. With rising costs, turmoil in congress, and an overall uneasy feeling about the future of health insurance, it is critical to stay ahead of the curve and be aware of the most current consumer driven healthcare options that are available.
With the options of traditional style health insurance and consumer-driven products such as Health Reimbursement Arrangements (HRA’s) and Health Savings Accounts (HSA’s), it’s important to make sure that your clients are not only aware, but encouraged to explore multiple healthcare options. A thorough health insurance package should offer employees choices — choices to choose what’s right for their individual needs.
Group Long Term Disability:
After health insurance, group Long Term Disability (LTD) is the next most important benefit that an employer can offer to their employees. LTD costs an employer literally pennies on the dollar of his or her payroll and will protect not only the employer, but the employees in the event one experiences a disability. In addition to group LTD, Master Financial is able to provide you with Guaranteed Standard Issue (GSI) disability plans. GSI plans are actually Individual Disability Insurance (IDI) programs that can be issued on a guaranteed basis with NO MEDICAL UNDERWRITING.
Group Life Insurance:
Group term life insurance, much like group Long Term Disability, is issued on a guaranteed basis, and provides your clients’ employees with much needed life insurance benefits.
Qualified Retirement Plans:
With the days of defined benefit pension plans mostly behind us, in addition to the uncertainty of Social Security Retirement Benefits, it is critical that individuals begin to fund their own retirements as early as possible. It is vital that employers offer a qualified retirement savings plan to their employees such as, but not limited to, 401(k), SIMPLE IRA, SEP, and payroll deduction IRA. Employees both value and appreciate the ability to contribute pre-tax dollars to fund their own retirement.
Dental and Vision Benefits:
In order to help round out an employee benefits package, it is important to consider both dental and vision coverage. With a multitude of carriers offering a plethora of different options, you can consult with Master Financial to help you structure the most cost effective and benefit-rich package there is for each of your group clients.
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