Supplemental Success

Select Stainless is a manufacturer and distributor of stainless steel restaurant equipment. It always offered a competitive benefits package to its employees, but like many companies, it couldn’t afford to offer coverage for every need. After learning about Illinois Mutual’s new voluntary benefits for the workplace, agent John Smith felt he could help Select Stainless fill some gaps in its benefits package with supplemental insurance. The company was interested, seeing the program as a way to offer its employees better protection and make its benefits package more attractive to prospective employees. Select Stainless offered Illinois Mutual’s Interest Sensitive Whole Life Insurance (ISWL) to all its employees. It already carried a group life product with $15,000 of coverage, but with this additional offering, employees could increase their protection amount, retain full ownership of their coverage and take advantage of payroll deduction. John did a phenomenal job on the presentation and enrollment process. As a result, close to 65 percent of employees chose to purchase the coverage. And next year, Select Stainless plans to offer ISWL to its employees’ families too.

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