| [March 25, 2005] |
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Minnesota Life Technology Makes Group Life Insurance Easy for Employees
ST. PAUL, Minn. --(Business Wire)-- March 25, 2005 -- Online quotes and underwriting exam scheduling, along with application status notification via email are the latest innovations introduced by Minnesota Life Insurance Company to make employer-provided group life insurance easier for employees to use.
"Our goal is to help employers get the most out of their group life insurance program," said Maria O'Phelan, second vice president, Group Customer Service and Technology. "When employers who provide their work force with group universal life or variable group universal life insurance also provide easy-to-use, flexible financial tools, employee satisfaction goes way up."
The online quotations, underwriting exam scheduling, and email status notification shorten and simplify the process of comparing coverages, applying for additional coverage, and following the underwriting process:
-- On-line quotations: a tool that helps employees see how different levels of contributions to their cash value account will grow over time;
-- On-line underwriting exam scheduling: quick and easy access to a calendar that enables workers to schedule medical exams - when needed -- at their convenience;
-- Email notification of underwriting status: insurance applicants are kept "in the loop" via email throughout the underwriting process. They also are notified by email when the application is approved.
Web-based applications help reduce paper, administrative costs, and the amount of the employer's human resources staff time spent answering questions about benefits.
"Employers also find that employees like the convenience of administering their group life coverage themselves on the internet," said O'Phelan. "They can learn about the products and make their decisions on their own, at their own pace."
Minnesota Life, a member of Securian Financial Group, Inc., is the nation's seventh largest group life insurer, with more than $336 billion in group life insurance in force and paying nearly $600 million in group life and accelerated benefits claims annually. Minnesota Life has provided customized group life insurance programs to government, business, and associations for more than 80 years. It is highly rated by the major independent rating agencies that analyze the financial soundness and claims-paying ability of insurance companies. For more information about web-based services offered by Minnesota Life Group Insurance, visit www.mnmutualgroup.com/MMG/home.html.
Note: Download a high-resolution photo of Maria O'Phelan at www.minnesotalife.com/news/download_center/download_portr.asp
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