Capabilities Portfolio - Prudential
Capabilities Portfolio - Prudential
Capabilities Portfolio - Prudential
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A Leader in Employee Benefits Solutions<br />
<strong>Prudential</strong> Group Insurance<br />
The <strong>Prudential</strong> Insurance Company of America<br />
0236570
A Results-Driven Solution<br />
From a Name You Know and Trust<br />
Since 1875, the <strong>Prudential</strong> Insurance Company of America<br />
(<strong>Prudential</strong>) brand has been synonymous with helping people<br />
achieve financial security. Our well-known Rock symbol is an<br />
icon of strength, stability, expertise, and innovation that has<br />
stood the test of time.<br />
<strong>Prudential</strong> Group Insurance has been helping clients and<br />
their employees meet benefits challenges since 1916, when<br />
we first began underwriting group insurance plans. Today,<br />
we are the nation’s second-largest group life carrier, and<br />
a leading disability carrier. 1 We are well recognized across<br />
all market segments for the breadth and depth of our<br />
products and services.<br />
The driving force of our customer-oriented philosophy is simple:<br />
Every <strong>Prudential</strong> professional is committed to giving you and<br />
your employees the ultimate in customer service.<br />
Our combination of financial strength, proven experience,<br />
innovative products, and excellent service allows us to help<br />
satisfy the cost and value requirements of your employee<br />
benefits programs.<br />
2
When Every Dollar and Every Effort Counts<br />
Leading Employers Count on <strong>Prudential</strong><br />
In today’s competitive environment, there’s no room for waste.<br />
With tighter budgets and fewer human resources personnel,<br />
every dollar and every effort counts — particularly when it comes<br />
to your employee benefits. Now more than ever, leading employers<br />
rely on The <strong>Prudential</strong> Insurance Company of America (<strong>Prudential</strong>)<br />
to recommend benefits solutions that give employees peace of mind<br />
and deliver results.<br />
If you’re interested in attracting and retaining top talent,<br />
minimizing benefits costs, and reducing administrative burdens,<br />
<strong>Prudential</strong> can help. With <strong>Prudential</strong>, employers of all sizes<br />
discover superior service, real solutions, and real results.<br />
Let us help you tackle the challenges you face every day,<br />
with real solutions from <strong>Prudential</strong> Group Insurance.<br />
n Help protect your employees’ families and their assets<br />
with life insurance solutions.<br />
n Boost workforce productivity with disability and<br />
absence solutions.<br />
n Fulfill your promises in a cost-effective manner with<br />
retiree funding solutions.<br />
n Enhance cash flow and increase benefit control with<br />
global solutions and captive reinsurance.<br />
At <strong>Prudential</strong>, we understand the real challenges you face,<br />
and we’re here to help.<br />
3
When You Need to Achieve More with Less<br />
<strong>Prudential</strong> Delivers Robust, Flexible Product Solutions<br />
Overcome your cost and benefits challenges with plans that fit your budget and reward your workforce. We’ll help you<br />
focus your dollars and efforts on the products that matter most, so that you can attract and retain top talent, minimize costs,<br />
and maximize employee satisfaction. By using our extensive employee benefits research and taking the time to understand<br />
your company and your employees’ specific needs, we can advise you of the most appropriate plan designs and<br />
contract provisions.<br />
Basic, Optional, and Dependent Term<br />
Life Insurance<br />
n Gives a choice of plans based on salary multiples, scheduled<br />
amounts, incremental amounts, or employee class.<br />
n Offers dependent coverage for spouse and eligible children.<br />
Basic and Optional Accidental Death &<br />
Dismemberment (AD&D) Insurance 2<br />
n Provides coverage for loss of life and paralysis resulting from<br />
covered accidents.<br />
n Includes benefits for covered accidents where seat belts and<br />
air bags are used.<br />
n Offers optional provisions for coma, exposure and disappearance,<br />
return of remains, felonious assault, spouse or child tuition<br />
reimbursement, day care expenses, and more.<br />
Business Travel Accident (BTA) Insurance<br />
n Provides benefits for accidental death or injuries occurring<br />
during business trips.<br />
n Offers an optional extended benefit that covers travel for pleasure.<br />
n Gives a choice of high coverage limits, executive carve-outs,<br />
privately owned aircraft coverage, and worldwide war risk protection.<br />
Short Term Disability (STD) Insurance and Services 3<br />
n Provides a choice of benefit period length, waiting period,<br />
and benefit amount.<br />
n Offers Insured, Administrative Services Only, and Advice to<br />
Pay claim services.<br />
n Provides state-mandated disability insurance and self-insured<br />
plan administration.<br />
Long Term Disability (LTD) Insurance and Services 3<br />
n Offers a choice of provisions designed to manage your<br />
risk and provide employees and their families the support<br />
they need.<br />
n Works toward maximizing capacity and facilitating<br />
return to work.<br />
Integrated Short & Long Term Disability Insurance 4<br />
n Combines two coverages into one with the convenience<br />
of integrated administration.<br />
Absence Management Services 4<br />
n Provides administration of Family Medical Leave (FML)<br />
and state leaves.<br />
n Provides administration of other leaves, including<br />
Military Leave, Jury Duty, Bereavement Leave, and<br />
other company-specific leaves.<br />
4
Captive Reinsurance<br />
n Provides fronting services for life and disability programs.<br />
n Offers life and LTD stop loss protection.<br />
Group Universal Life (GUL) Insurance<br />
n Combines life insurance coverage with a tax-deferred,<br />
guaranteed interest cash accumulation fund option.<br />
n Provides easy loan or withdrawal access to the cash<br />
accumulation fund.<br />
Group Variable Universal Life (GVUL) Insurance<br />
n Combines all of the features of GUL with an array of<br />
tax-deferred separate account investment options.<br />
n Offers a way to further reward highly compensated<br />
employees and executives.<br />
Investors should consider the contract and the underlying<br />
portfolios’ investment objectives, risks, and charges and<br />
expenses carefully before investing. The contract prospectus<br />
and the underlying portfolio prospectus contain information<br />
relating to investment objectives, risks, and charges and<br />
expenses as well as other important information. Contact your<br />
financial professional for the prospectuses. You should read<br />
the prospectuses carefully before investing. It is possible to<br />
lose money when investing in securities.<br />
Multinational Pooling<br />
n Combines the financial benefits of a global arrangement with local<br />
servicing and expertise.<br />
n Provides access to admitted life and disability benefits worldwide<br />
through our exclusive partnerships with International Group<br />
Program (IGP) and Insurope. 5<br />
<strong>Prudential</strong> Zurich Global Benefit Solutions<br />
n Provides benefits on foreign lives for unique situations including<br />
third country nationals (TCNs).<br />
n Offers a single point of access for customers and the intermediaries.<br />
Insurance Continuance Fund, Retiree Life Buyout,<br />
and Voluntary Retiree Reducing Term Life Insurance<br />
n Prefund future cost of group term life insurance or transfer the<br />
liability in exchange for a cash payment.<br />
n Provides retirees with voluntary life insurance benefits at no cost<br />
to the employer.<br />
Other Coverages<br />
n Critical Illness: Offers a flat dollar benefit for the diagnosis of certain<br />
critical illnesses. Allows insured to use payment for any purpose<br />
without restriction.<br />
n Retiree Portability: Offers retiring employees the option of maintaining<br />
their life insurance benefits by porting their coverage out of the employer<br />
plan and into a group trust.<br />
Real result: When you choose <strong>Prudential</strong>,<br />
you can achieve more with less.<br />
5
When There’s Never Enough Time or Budget<br />
<strong>Prudential</strong> Ensures Superior Employer Experiences<br />
Reduce your administrative burden and make smarter benefits decisions with <strong>Prudential</strong>’s exceptional service and<br />
leadership. Our expert account guidance, leading-edge technology, convenient record keeping, and innovative enrollment<br />
combine to create a superior experience for employers. In fact, in our recent Group Insurance Client Relationship Survey,<br />
95% of our clients said they were satisfied with the value of <strong>Prudential</strong>’s products and services. 6<br />
Enjoy Effortless<br />
Administration with<br />
Expert Advice<br />
Gain Efficiencies<br />
and Maximize<br />
Participation<br />
with Multi-Year<br />
Strategies<br />
Real Solutions<br />
with Real Results<br />
We Help You Reduce<br />
Your Administrative Burden<br />
and Guide Smarter<br />
Benefits Decisions<br />
Get Immediate<br />
Information with<br />
Link 2 PRU Benefits<br />
Reduce Your<br />
Administrative<br />
Load with<br />
Record Keeping<br />
Services<br />
Save Time<br />
with Online EOI<br />
6
Enjoy Effortless Administration with Expert Advice<br />
Our service is fueled by a passion to help you design and<br />
administer a benefits program that employees will value and<br />
appreciate. You’ll work with some of the best account teams in<br />
the business—experienced, responsive, and resourceful people<br />
who put your needs first.<br />
Using our proven team approach with subject-matter experts<br />
from our organization and yours, we will apply project management<br />
principles to implement your plans, smoothly, accurately, and<br />
on time. Once your plan is implemented, we’ll continuously monitor<br />
results and make recommendations to help you maximize the<br />
effectiveness of your program.<br />
Get Immediate Information with Link 2 PRU Benefits<br />
Your authorized personnel will have easy online access to details<br />
about your plan. You can run standard reports, or create custom<br />
reports tailored to your needs. A report scheduler auto-generates<br />
reports and sends you an email when they are complete. You’ll<br />
also have access to billing, plan documents, and a host of<br />
additional services.<br />
Save Time with Online Evidence of Insurability<br />
Our online evidence of insurability (EOI) for employees and<br />
spouses can be accessed through our enrollment website,<br />
through a link from your website or your third party administrator’s<br />
website, or through a direct link provided to employees. Available<br />
in English and Spanish, it significantly reduces the time you’ll<br />
spend on EOI by automating the process.<br />
Reduce Your Administrative Load<br />
with Record Keeping Services<br />
Let us streamline the administrative work associated with your<br />
plans—and save you time and money. Choose as many or as<br />
few services as needed from our robust offering of record keeping<br />
services for terminations, claims, portability, and other plan<br />
components. All services include toll-free customer support<br />
for you and your employees.<br />
Gain Efficiencies and Maximize Participation<br />
with Multi-Year Strategies<br />
With cost-shifting demands, successful enrollments are more<br />
critical to the financial success of your plans than ever before.<br />
We believe that the most effective way to improve your next<br />
enrollment is to capture, analyze, and react to your prior<br />
enrollment’s participation results. This is the essence of our<br />
multi-year targeted approach to enrollment. By learning from<br />
the previous year and understanding the specific needs within<br />
your employee population, we’ll work with you to design<br />
simplified enrollment campaigns that produce strong results<br />
with less time invested.<br />
You Don’t Have to Be Large<br />
to Leverage Innovation<br />
We meet the sophisticated needs of large market clients<br />
by building new and innovative solutions—and then<br />
we make those valuable solutions available to<br />
employers of all sizes.<br />
Real result: When you choose <strong>Prudential</strong>,<br />
you’ll get more for your time and money.<br />
7
When Keeping Top Talent Is at Stake<br />
<strong>Prudential</strong> Treats Your Employees Like Family<br />
If your goal is to bolster satisfaction with benefits, you can rely on <strong>Prudential</strong> to do the right thing for your<br />
employees. Our responsive service, convenient technology, fast approvals, and flexible benefits management<br />
tools make it easy for employees to get the coverage they need.<br />
Boost Employee<br />
Satisfaction with<br />
Quality Service<br />
Accommodate<br />
Employee Preferences<br />
with a Variety of<br />
Communication<br />
Methods<br />
Real Solutions<br />
with Real Results<br />
We Make It Easy<br />
for Your Employees<br />
to Get the Coverage<br />
They Need<br />
Make It Easy<br />
for Employees to<br />
Manage Benefits with<br />
User-Friendly Systems<br />
Save Time and<br />
Eliminate Worry with Fast,<br />
Automated Approvals<br />
8
Boost Satisfaction with Quality Service<br />
Through every point of contact—from enrollment to policy<br />
services, to claims and beneficiary services—your employees<br />
will be pleasantly surprised by the high-quality support they receive.<br />
In fact, we consistently exceed our standards for prompt reviews<br />
and decisions, claim accuracy, and application processing (EOI).<br />
Because employees receive prompt, professional service, they<br />
spend less time worrying about benefits. This translates to a happier,<br />
more productive working environment.<br />
Make It Easy for Employees to Manage Their<br />
Benefits with User-Friendly Systems<br />
We continually enhance our technology tools to create better<br />
enrollment and claims experiences for your employees, giving<br />
them access to information when they need it. With secure,<br />
web-based portals, your employees enjoy the best in timely and<br />
professional service. They will have 24/7 access to research options,<br />
compare costs, enroll for coverage, check coverage, submit claims,<br />
check claim status, and more. Of course, they can also call us<br />
toll-free, or use our Interactive Voice Response (IVR) system for<br />
some services. For added convenience, the website is also available<br />
in Spanish. All of these features make it easier for your employees<br />
to make informed decisions about their benefits.<br />
Save Time and Eliminate Worry with Fast,<br />
Automated Approvals<br />
We’ve automated evidence of insurability, offering employees a<br />
seamless, simplified process. Those who qualify—about 60% of<br />
enrollees—receive instant approval. If additional information is<br />
required, the system will prompt the user to answer additional<br />
questions. Employees can receive approval based on the additional<br />
questions by email, text, or letter.<br />
Accommodate Employee Preferences with a<br />
Variety of Communication Methods<br />
Employees learn and interact in different ways, depending on<br />
their age, lifestyle, and personal preferences. Unlike many providers,<br />
<strong>Prudential</strong> strives to accommodate every employee by offering<br />
a variety of communication and benefits management tools.<br />
Employees can choose the method of interaction that’s most<br />
comfortable for them—online, live assistance, or IVR. With<br />
<strong>Prudential</strong>, your employees will discover that managing their<br />
benefits is easier than ever before!<br />
Real result: When you choose <strong>Prudential</strong>,<br />
employees have more satisfaction with less effort.<br />
9
When Competition Is Fierce<br />
Gain the Innovative Edge with <strong>Prudential</strong><br />
One way to gain the innovative edge is to collaborate with innovative companies. <strong>Prudential</strong> is a good example.<br />
As a large-market leader, we continually evolve our products, services, and technologies.<br />
Staying One Step Ahead of the Industry with<br />
Innovative Solutions<br />
We gauge current practices and identify future trends through<br />
experience, benchmarking studies, and research. We use this<br />
information to shape the products and services of the future—<br />
not only by guiding <strong>Prudential</strong>’s innovations, but also by<br />
keeping the industry informed through survey publications<br />
and white papers.<br />
In addition to recognizing marketplace needs for evolution<br />
in plan offerings, outsourced absence management, and<br />
more comprehensive enrollment capabilities, <strong>Prudential</strong> is<br />
a leader in retiree benefits funding solutions and global<br />
benefits management.<br />
Manage Costs Effectively with Retiree Solutions<br />
Employers have a growing need for guidance on designing retiree<br />
benefits programs. <strong>Prudential</strong> is a leader in this area and has a<br />
portfolio of innovative retiree benefits funding solutions that are<br />
designed to reduce your liability and the administrative burden of<br />
managing a retiree benefits program.<br />
Gain Global Efficiency with Multinational Pooling<br />
To help global companies provide employee benefits efficiently<br />
and economically, <strong>Prudential</strong> offers multinational pooling — an<br />
accounting arrangement coordinated by a pooling network that uses<br />
local insurance carriers worldwide to provide suitable benefits.<br />
We are aligned with two international pooling networks —<br />
International Group Program (IGP) and Insurope — both leaders<br />
in the international insurance market whose members are<br />
top-quality insurance providers.<br />
10<br />
If you’re ready for solutions that address your real challenges,<br />
<strong>Prudential</strong> is ready to deliver results.
For more information, contact your <strong>Prudential</strong> representative today<br />
or visit us online at www.prudential.com/gi.
Choose Solutions That Help Deliver Results<br />
Life Insurance<br />
n Basic, Optional, and Dependent Term Life<br />
n Basic and Optional Accidental Death<br />
& Dismemberment<br />
n Business Travel Accident<br />
n Group Universal Life<br />
n Group Variable Universal Life<br />
n Executive Group Variable Universal Life<br />
Disability Insurance and Services<br />
n Short Term Disability<br />
n Long Term Disability<br />
n Integrated Short & Long Term Disability<br />
n State Mandated Disability<br />
n Absence Management<br />
n Return to Work Services<br />
Retiree Solutions<br />
n Insurance Continuance Fund<br />
n Variable Insurance Continuation Fund<br />
n Retiree Life Buyout<br />
n Group Universal Life Insurance<br />
n Group Variable Universal Life Insurance<br />
n Executive Group Variable Universal Life Insurance<br />
n Voluntary Retiree Reducing Term Life Insurance<br />
n Retiree Portability<br />
Global Solutions<br />
n Multinational Pooling<br />
n <strong>Prudential</strong> Zurich Global Benefit Solutions<br />
n Captive Reinsurance<br />
Non-Qualified Benefits<br />
n Corporate Owned Life Insurance<br />
n Trust Owned Life Insurance<br />
n Bank Owned Life Insurance<br />
1 LIMRA, 2011 Annual Surveys of U.S. Group Life and Group Disability Insurance.<br />
2 This policy provides ACCIDENT insurance only. It does NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Insurance Department.<br />
IMPORTANT NOTICE —THIS POLICY DOES NOT PROVIDE COVERAGE FOR SICKNESS.<br />
3 This policy provides disability income insurance only. It does NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Insurance Department.<br />
North Carolina Residents: THIS IS NOT A MEDICARE SUPPLEMENT PLAN. If you are eligible for Medicare, review the Guide to Health Insurance for People with Medicare,<br />
which is available from the company.<br />
4 The <strong>Prudential</strong> Insurance Company of America offers an Integrated Disability and Absence Management service program that includes certain services provided by a third-party administrator<br />
under contract with <strong>Prudential</strong>. Any insured group short term or long term disability products, which may be subject to a <strong>Prudential</strong> Integrated Disability program, will be issued by<br />
The <strong>Prudential</strong> Insurance Company of America. Contract Series: 83500. The <strong>Prudential</strong> Insurance Company of America does not underwrite commercial workers’ compensation plans.<br />
5 IGP and Insurope are not <strong>Prudential</strong> Financial Companies.<br />
6 The <strong>Prudential</strong> Insurance Company of America, 2012 Group Insurance Middle Market and National Account Client Relationship Survey.<br />
Group Variable Universal Life Insurance is issued by The <strong>Prudential</strong> Insurance Company of America and distributed through <strong>Prudential</strong> Investment Management Services LLC (“PIMS”). The <strong>Prudential</strong><br />
Insurance Company of America is located at 751 Broad St., Newark, NJ 07102 and PIMS is located at Three Gateway Center, 14th Floor, Newark, NJ 07102. Both are <strong>Prudential</strong> Financial companies.<br />
Contract Series 89759. This flyer is a summary of benefits. It does not include all plan provisions, exclusions, and limitations. Availability of provisions and services may vary. A Group Contract<br />
with complete plan information will be provided. If there is a discrepancy between this flyer and the Group Contract issued by <strong>Prudential</strong>, the terms of the Group Contract will govern.<br />
Group Insurance coverages are issued by The <strong>Prudential</strong> Insurance Company of America, 751 Broad Street, Newark, NJ 07102. The Booklet-Certificate contains all details, including any policy<br />
exclusions, limitations, and restrictions, which may apply. Contract Series: 83500 and 96945.<br />
The Real Challenges Solutions Results logo is a registered service mark of The <strong>Prudential</strong> Insurance Company of America.<br />
© 2012 <strong>Prudential</strong> Financial, Inc. and its related entities. <strong>Prudential</strong>, the <strong>Prudential</strong> logo, the Rock symbol, and Bring Your Challenges are service marks of <strong>Prudential</strong> Financial, Inc.<br />
and its related entities, registered in many jurisdictions worldwide. 21908<br />
0236570-00001-00