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HomeMy WebLinkAboutAllstate Proposal OutlineGBS Proprietary & Confidential10/5/2021  The information contained herein is subject to the disclosures and disclaimers on the final page of this proposal.EXCLUSIVELY FOR: Effective 10/1/2021Gallagher Public Entity ClientsGallagher Benefit Services, Inc.Permanent Life Insurance With LTCPROVIDER PROPOSALSPrepared By:© 2021 GALLAGHER BENEFIT SERVICES, INC. AJG.COM 1.  AM Best / Financial RatingA+ (Superior)XV ($2 Billion or Greater)2.  Products QuotedPermanent Life Insurance3.  HSA CompliantYes4.  Rate GuaranteesState Filed5.  Employee Eligibility20+ Hours or More6.  Billing Process / MethodSelf‐Bill, List‐Bill, or ACH7.  Group or Individual Level Premium AccountingIndividual8.  Claims Turnaround Time3 Calendar Days9.  Enrollment PlatformSelerix10.  Commissions100% Year 1 and 3% Years 2+ 11.  MiscellaneousNoneCarrier Information© 2021 GALLAGHER BENEFIT SERVICES, INC.Page 2 of 5AJG.COM Group Universal Life 23 (Target Premium)Situs State: WA1.  Issue AgesEmployee: Actively at Work; Ages 18‐70 Spouse: Ages 18‐702.  Participation Requirement5 Employees with Active Enrollment3.  Guaranteed Issue  ‐ EEAges 18‐70: Up to $75,0004.  Guaranteed Issue  ‐ SPAges 18‐70 (Working Spouse): Up to $50,0005.  Future Purchase OptionNone6.  Long Term Care RiderAccelerated Death Benefit For Long Term Care:4% Monthly Advance of Death Benefit for Qualified Home or Facility Care When Unable to Perform 2/6 ADL's; EE/SP Ages 18‐70; 90 Day Waiting Period; 6/6 Pre‐Ex7.  Restoration of BenefitsNone8. Time Span of CoverageAge 959. PortabilityActive Employees Can Port Coverage Even if Group Master Policy Terminates or is Replaced;Ported Policies Remain Active Until Policyholder Terminates Coverage or No Longer Pays Premiums10. MiscellaneousRates Could Increase at age 80Monthly Premium$50,000 Face AmountEE, Non‐Tobacco, Death Benefit11. Age 35$34.88 12. Age 45$54.34 13. Age 55$92.68 RatesPermanent Life Insurance© 2021 GALLAGHER BENEFIT SERVICES, INC.Page 3 of 5AJG.COM AM Best Guide© 2021 GALLAGHER BENEFIT SERVICES, INC.Page 4 of 5AJG.COM Products and policies/certificates may vary by state and/or carrier, including but not limited to, definitions, provisions, exclusions, andrates. Carriers and/or states may require major medical insurance to be eligible, including proof. Communications, education andenrollment will accommodate state differences and requirements. Final proposals may vary based on effective date, education /enrollment, plan designs, and census updates.Disclosures and DisclaimersThe intent of this analysis is to provide you with general information regarding the status of, and/or potential concerns related to, yourcurrent employee benefits environment. It should not be construed as, nor is it intended to provide, legal advice. Laws may becomplex and subject to change. This information is based on current interpretation of the law and is not guaranteed. Questionsregarding specific issues should be addressed by legal counsel who specializes in this practice area.This analysis is an outline of the coverages proposed by the carrier(s) based upon the information provided by your company. It doesnot include all the terms, coverages, exclusions, limitations, and conditions of the actual contract language. See the policies andcontracts for actual language. This proposal (analyses, report, etc.) is not a contract and offers no contractual obligation on behalf ofGBS.  Gallagher companies may receive supplemental compensation which is referred to in a variety of terms and definitions, such ascontingent commissions, additional commissions and supplemental commission. Supplemental compensation does not impact specificcase level rates and premiums. Allstate ‐ 0% to 5% of premium (new business and renewal w/ Allstate)This analysis is for illustrative purposes only, and is not a proposal for coverage or a guarantee of future expenses, claims costs,managed care savings, etc. There are many variables that can affect future health care costs including utilization patterns, catastrophicclaims, changes in plan design, health care trend increases, etc. This analysis does not amend, extend, or alter the coverage providedby the actual insurance policies and contracts.  See your policy or contact us for specific information or further details in this regard.© 2021 GALLAGHER BENEFIT SERVICES, INC.Page 5 of 5AJG.COM