4 unique benefits of offering hassle-free insurance to your members.
Associations need to be innovative in providing value added services and education to ensure the retention of their members. Insurance can be part of that solution. Credit unions have been offering their members insurance for decades in an effort to enhance member relationships and grow revenue. Why aren’t associations doing more with that as well?
It is crucial to be financially prepared for unexpected circumstances, and Accidental Death & Dismemberment (AD&D) insurance helps members do just that. AD&D is a complementary supplement to add to other insurance plans. It also can be a great alternative option for those who may not qualify for other insurance plans. It covers the accidental death or loss of limbs or a function such as sight, hearing or speech due to a covered accident. It can also ease the financial stress that can come with unexpected circumstances and help your members focus on their financial well-being. Insurance creates a deeper level of engagement. The more products the member has with you, the greater the retention, which is key to an association’s existence.
One of Franklin Madison’s national association clients has been able to add AD&D insurance to their list of member benefits. With a complimentary coverage amount provided by the Association, members can also purchase up to $300,000 in supplemental AD&D coverage.
So, what’re the top 4 benefits of AD&D insurance through Franklin Madison?
- AD&D insurance can drive member loyalty to the association. When a member feels supported through both personal and financial means, it shows them that their membership with the association is truly beneficial and drives them to renew year after year. They feel a sense of connectedness.
- Accidents are the fourth leading cause of death in the United States. Source. It is always important to be prepared for what life may throw in the way of members. Accidents happen, and AD&D insurance can assist.
- You don’t have to take a medical exam to enroll for AD&D insurance coverage, and one’s acceptance is guaranteed.
- Franklin Madison works with the association to offer their members the option to enroll for a no-cost coverage, complements of the association for being a member. This adds to the list of member benefits and incentives that makes individuals interested in joining and staying with your association.
Offering AD&D insurance to your members doesn’t have to be a heavy lift. Let Franklin Madison make the process simple for you. We use a smarter marketing, data-driven approach that will achieve the anticipated results you hope for. We handle all administration throughout the entire process, which requires very minimal upfront work from the association at no additional cost.
Learn how insurance can help retain your members and generate revenue – visit franklin-madison.com to learn more.