MetLife extends bundled benefits offering for small businesses
MetLife (MET) is extending its curated small-business benefits bundles for the 10-99 employee market.
The enhanced offering adds life and disability insurance options to the dental, vision and voluntary legal services bundle options that were introduced in 2016.
MetLife is making these enhancements to provide small business owners and their brokers around the country with access to the products they want most. MetLife Simply Smart Bundlessm were designed based on data mined from more than 40,000 small business owners. Tiered plan options provide additional flexibility for employers to best match their needs and budgets in each market.
James Reid, executive vice president and head of Regional and Small Business Solutions at MetLife said: “Small business owners know better than anyone that they are operating in a competitive environment, not just in selling their products and services, but in attracting and retaining the best employees.
“These bundles are designed to help small business owners compete in each local market, because these are the benefits packages most desired in each geography. And, we’re backing it up with service from a dedicated team of small-business experts at a company with 100 years of experience in employee benefits.”
The bundles also come with exclusive value-adds. These include multi-year rate guarantees that lock in pricing for 3 years for life and disability coverage and 2 years for dental, vision and MetLaw; guaranteed issue on supplemental life up to $100,000; and easy-to-share educational videos to drive employee awareness and participation.
MetLaw, MetLife’s employee-paid legal services product, which is not available as a stand-alone product in the small business market, is also available in conjunction with the bundles. MetLaw covers some of the most frequently needed personal legal matters, such as general legal consultations, home and real estate matters, debt matters, and traffic defense.
“MetLaw is an exciting differentiator for businesses with 10-99 employees as part of the MetLife Simply Smart Bundles,” added Reid.
“MetLaw provides small businesses with access to one of the fastest-growing of all voluntary benefits – further enabling them to provide benefits packages that can compete with larger employers. Even better, there's no minimum participation requirement on legal services when it’s part of the bundle.”
Source: Company Press Release