Allstate Discusses Employee Benefits

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On Wednesday, July 13, Allstate Insurance provided free breakfast and information to customers at Dover Downs. One of the sponsors of the breakfast was Louis Fevrin, who owns and operates the Louis Fevrin Insurance Agencies in Milford.

“We wanted to give back to our customers and thought this was a great way to thank them for their business,” Mr. Fevrin said. “We also wanted to be sure all of our clients know about some additional products that could be very beneficial to their employees. We want our clients to think of us as more than an insurance agent. We want them to know we are trusted advisors to them as well.”

One of the products discussed at the breakfast was voluntary employee benefits available from Allstate. Tori Carchman from Allstate Benefits explained that the benefits are paid directly to the employee if they are sick, injured or disabled, similar to AFLAC. The benefits are provided at no cost to the employer and Allstate provides the coverage to more than 40,000 companies in the United States, including Home Depot, Macy’s and Walmart.

“There is a strong relationship between employee satisfaction and benefits,” Ms. Carchman said. “Benefits are actually becoming more important than salary when people are seeking new jobs. In addition, good benefits can decrease employee turnover. However, you have to educate employees about benefits. If you provide them information about the importance of voluntary benefits, they rarely choose not to participate.”

According to Ms. Carchman, there are many different voluntary benefits available through Allstate. There are policies that cover accidents with disability, hospitalization, cancer and other medical conditions that may cause significant financial hardship. Research indicates that cancer is the number one reason for bankruptcy in the United States. Ms. Carchman said that the voluntary benefits provided by Allstate can help keep an employee from the financial burden that can occur after a cancer diagnosis.

“The cancer policy begins paying upon diagnosis and does not simply pay your medical bills,” Ms. Carchman said. “As soon as you receive a cancer diagnosis, the policy begins paying. Anyone who has been touched by cancer knows that it is the entire family that is affected. There are trips to treatments, days missed from work by more than one family member as the person diagnosed may be unable to drive. There may also be treatments that are not covered by medical insurance or high co-pays. Some treatment centers are now requiring co-pays be paid before treatment begins. If you have to come up with $1,500 to $5,000 for treatments, that could be the difference between life and death. That is how this policy can help.”

Employers who offer the plan to employees may be eligible for tax deductions as well, Ms. Carchman said. She said most claims are usually processed within 48 hours and all payments are made via direct deposit so employees are not waiting for a check to arrive in the mail. She said that claims for hospitalizations may take up to ten days as there are additional steps that must be taken to process the claim.

Ms. Carchman said that there are plans available for almost every type of business, including construction companies who often have difficulty finding disability coverage due to the nature of the business. If a company expresses interest, an agent will visit and explain the process. Once the company decides they what coverage they would like to offer, the agent will schedule sessions with employees to explain what is available, the costs and how it will protect them. Employees are then given the option to sign up or opt out. Any employee who does not wish to obtain the insurance will be asked to sign a waiver confirming they do not want to participate. Plans begin as low as $4 per week and all payments are deducted directly from the employee’s.

Any business that is interested in learning more about voluntary benefits from Allstate should call Mr. Fevrin at 302-424-8490 or email him at louis.fevrin@allstate.com.

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