Value Proposition for Sponsoring Organizations
Wage Protector is a new kind of insurance created to provide important extra financial resources to help insureds meet their critical obligations, when income is temporarily interrupted because of:
· disabling sickness or injury,
· involuntary unemployment, or
· re-employment at a lower income.
Why Wage Protector? Because, unfortunately, there are big gaps in America’s employment safety net:
· Unemployment benefits, nationally on average, only pay $368.97 per week for 15 weeks. Benefits may also become taxable.
Benefits Include:
· Disability due to illness or injury because the bills don’t stop when someone is sick or hurt and can’t work,
· Job Loss due to involuntary unemployment because not everyone gets a rich severance package, and or
· SALARYGAP® an under-employment benefit, (creating a “salary gap”) because all too often today it is necessary to take a pay cut to get a new job.
Enrolling in Wage Protector. A dedicated program enrollment website will be created and maintained at no cost to the sponsor or its customers.
· Each enrollee may select the monthly benefit and term of coverage.
Sponsoring Wage Protector is easy
· No premium contribution or fees required,
· Enrollment is optional for customers (no minimum participation requirements)
· No administrative burden