BENEFITS & INSURANCE

Your company’s ability to attract and retain good talent is, in part, contingent upon a solid benefits package.   When you add life, health, disability and long-term care insurance to your benefits offering, you give your employees confidence in knowing they have the protection they need for themselves and their loved ones. 

Through our subsidiary, NW Insurance Agency, we offer a practical way to provide comprehensive group coverage for your workforce at a price your business can afford.  Our financial consultants can help you select a benefits and insurance plan that fits your unique needs.

• Life Insurance
• Health Coverage
• Disability Insurance
• Long-Term Care Insurance

When you work with the experienced team at Northwest Financial, we help you evaluate the offerings from multiple insurance companies, so you can confidently select and obtain the coverage your business needs at a price that’s right for your balance sheet. 

Contact us or call 703-810-1072, ext. 110 (toll-free 1-800-269-2156, ext. 110) to schedule an appointment to discuss your needs, so we can help you determine the benefits plan that is right for your organization and its employees.

Life Insurance

Life insurance provides employees and their dependents cost-effective financial protection in their time of need.  You can offer group term life insurance to your workforce at minimal cost. Most companies elect to offer a basic level of coverage at no cost to the employee, but you may also provide your staff with the option of purchasing supplemental insurance at their own cost. In this way, they can select the right amount of life insurance to meet their individual needs.

Other options include: 

• Group Universal Life Insurance - provides coverage and builds cash value
• Variable Group Universal Life Insurance - provides flexible investment options
• Individual Term Life Insurance - employer paid

Generally, group life insurance entails:

• Guaranteed coverage amounts - either a fixed amount or based on salary.
• Basic coverage requires no health questionnaire or medical exam. Beyond basic coverage, health questions and medical exam may be necessary.
• Rates are based on the group of employees, not per individual.
• Less paperwork is involved because insurance is designed for groups.
• Risk determination is based on age, sex and salaries of your employees. Risk factors are averaged to calculate the premium.

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Health Coverage

Health insurance is perhaps the most sought-after employee benefit, due primarily to the ever-increasing price of private health care in the United States. Getting individual health insurance is very expensive and beyond what most workers can afford, especially if they have a family or have a preexisting medical condition. Offering group health insurance can help you hire and retain the best workers, and the amount you pay toward employee premiums may be tax-deductible. Since no one can be turned down based on medical history, group coverage also protects workers or family members who might otherwise go uninsured.  Employers can offer to pay all or part of the monthly insurance premium allowing even entry-level employees the opportunity to be covered.

Using a Health Savings Account (HSA) health plan may also be a cost-efficient option to a standard plan.

Offering group health insurance helps your employees manage routine costs associated with health care, including regular physical exams, prescriptions and preventative care. It also helps them mitigate costs associated with catastrophic illness or injury. In addition, it can help your company attract qualified staff and encourage employee loyalty.  Dental and vision insurance can also be added or offered as an supplemental option.

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Disability Insurance

Disability insurance protects workers against the loss of earnings due to temporary or permanent disability. The financial consequences of disability can be devastating. Not many people could manage without a regular source of income, even for a short time. That's why protecting the ability to work and earn an income is a valued component of a complete employee benefits program. There are two main types of group disability insurance -- short-term disability and long-term disability. Short-term disability provides benefits for durations of up to 13 or 26 weeks and long-term disability provides benefits for longer periods, generally up to age 65 or normal retirement age.  Disability can happen to anyone, at any age, and in any occupation. That is why it is important to consider enhancing your benefits package by offering disability insurance coverage to your employees. 

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Long-Term Care Insurance
Long term care insurance (LTCI) is the type of insurance that will pay for care a person receives when they need help either at home or in a facility with their activities of daily living due to an accident such as a fall, illness such as Alzheimer's, or just due to the normal aging process.  When you offer a comprehensive LTCI program, it can help you retain and attract valuable employees, improve productivity and minimize absenteeism for employees as caregivers and receive potential tax advantages.  LTCI can provide employees with a secure way to protect their savings and assets, minimize or eliminate the burden of having family and loved ones provide care giving, and offer the ability for the individual to choose where care is received. 

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