Advisor Today - May/June 2015 - (Page 15) new products DISABILITY INSURANCE By Michael Senecal New DI Product Simplifies Buying Process A new disability insurance offering from Unum simplifies benefits decision-making while allowing employees to easily choose the financial protection and price that's right for them. "Only about a third of workers today have access to disability benefits at work, yet almost all employees want this coverage available," said Kathy Plummer, director of disability product development at Unum. "The newest addition to our disability product portfolio will help employers bridge this gap." Unum's newest plan designs are voluntary-allowing employers to make coverage available to their entire workforce and designed to let employees choose from the coverage options at affordable group rates. This new offering reflects the growing trend of employers and employees sharing the costs and decisions about benefits coverage. Employers choose to offer shortterm disability, long-term disability or both, along with a few other options: * hether premiums are shared or W 100 percent employee-paid * he benefit choices and maximum T benefit amounts Then employees choose whether to participate, select the benefit amount option that is best for them, and select the elimination period on short-term disability, if available. The need for disability income protection is significant. Threequarters of workers today do not have enough emergency savings to cover six months or more of their expenses, according to a 2014 Bankrate.com survey. And half of all households could not raise $2,000 within a month if they needed to. "If unexpectedly sidelined by illness or injury, many workers would face significant financial strain," said Plummer. "They need our help, and this new offering helps connect the dots between this clear need and the provision of adequate coverage." For more information, visit the Unum website at www.unum.com. ANNUITIES New Rider offers Lifetime Income and Chance for Growth M etLife's new FlexChoice guaranteed lifetime withdrawal benefit (GLWB) rider is now available, along with the company's flagship variable annuities. This new option is designed to provide clients with guaranteed lifetime income with an opportunity to benefit from market growth while offering flexibility, should their financial needs change. "MetLife is committed to offering competitive solutions to clients seeking confidence and certainty in retirement," said Elizabeth Forget, executive vice president of MetLife Retail Retirement and Wealth Solutions. "FlexChoice is designed to provide clients with guaranteed lifetime income, while offering them significant flexibility should their needs or circumstances change. This pairing of guaranteed income and control through flexible features will serve as a powerful combination for retirement investors seeking investment options that are both reliable and adaptable." Clients who elect the FlexChoice rider can benefit from market growth and are guaranteed to receive lifetime income, even if market declines or withdrawals reduce their account value to zero. FlexChoice does not require the client to elect coverage of one person or two spouses at issue. Additional features include the opportunity for clients to start and stop withdrawals at any time without losing their ability to receive lifetime income, and the ability to cancel the rider if their needs change and receive a return of their purchase payments, adjusted for any withdrawals. An optional death benefit can also be elected for an additional charge for those who seek added protection for their heirs. For more information, visit the MetLife website at www.metlife.com. May/June 2015 | ADVISOR TODAY 15 http://www.Bankrate.com http://www.unum.com http://www.metlife.com Table of Contents for the Digital Edition of Advisor Today - May/June 2015 From the Editor Viewpoint New Products Listen! Investing with Purpose Ascending to Greatness DI Insurance Saves a Family—Twice Hack-Proof Your Social Media Site A Unique Asset That Is Often Overlooked How I Sell Whole Life When Being Wrong Is Right Selling Life Insurance Today Retirement Planning for Today’s Boomers Repotting Your Career NAIFA News NAIFA Government Relations After the Sale Marketing to Millennials How to Win the Hispanic Market In Step with a Winner Work for Free—and Make Lots of Money Doing It! 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