EOI enrolled the first employer sponsored Universal Life Plan ever done in the United States in 1981. Since that time, we have developed a particular expertise in helping each employer to identify those benefits that will best supplement their existing benefit program. We then research the market to determine which carrier or carriers offer the best products available to provide those benefits in terms of features, cost, underwriting and ease of administration.

Exclusive products are rare in the employee benefits market. EOI does have exclusivity on some of the products described here. You cannot obtain them anywhere else.

Products are usually offered on a guaranteed issue or modified guaranteed issue (short form health questionnaire) basis. They are paid for through the convenience of payroll deduction, an option that employees find most attractive, and are typically portable at the same rates. Here is a brief description of the products that we work with, listed in the order of appeal as measured by employee participation.


Life Insurance
We offer life insurance products as a supplement to the basic and optional group term insurance that most employees already have through their employer. These include Universal Life, Whole Life and Term Life. Employees may purchase coverage on themselves, their spouses and/or children.

In addition to the basic death benefit, these products usually include living benefits such as advance payouts of the death benefit for long term care or terminal illness and cash value build up at current interest rates (currently over 4%) on a tax deferred basis. Premiums are typically level and may be guaranteed for life. An option may also be included giving employees the right to future increases in the death benefit regardless of health.

Lifetime Benefit Term is a unique and innovative new life insurance product that combines the lower premiums of term insurance with lifetime coverage and a level premium guaranteed to age 120. Premiums may be up to 40% less than whole life and 25% less than Universal Life. The product offers terminal illness and long term care benefits in states where those benefits are approved.

Disability Income Insurance
Often described as insurance that goes to work when the insured can't, this policy pays an income for a specified benefit period when the insured becomes disabled. The benefit may be paid for a total of 13 weeks up to two years with short term disability coverage and up to age 65 or for life with long term coverage. The benefit is usually income tax free when the employee pays the entire premium. These policies may be issued on a "non-occupational" basis at lower premiums to avoid duplication with Worker's Compensation. Coverage is normally for employees only.

Accident Insurance
Accident insurance pays specified benefits for accidental injuries and can cover the employee, spouse and/or children. It pays in addition to other health insurance coverage and does not coordinate benefits, making it an excellent supplement to help offset higher deductibles, copays, out-of-pocket limits and out-of-network exposures. It has great appeal among families with young children and active young adults, both single and married. Basic accident insurance is typically offered with no health questions and no pre-existing condition limits.

Cancer Insurance
Cancer insurance has gained popularity in the last decade, due to the more restrictive nature of managed care networks. Cancer policies pay specified benefits to reimburse expenses incurred in the treatment of cancer and, with some products, other major illnesses. These policies pay benefits directly to the insured as expenses are incurred. They do not typically coordinate with group health insurance coverage, providing an excellent supplement to help offset higher deductibles, out-of-pocket limits and out-of-network expenses. Coverage for a spouse and/or children is also available.

Critical Illness Insurance
A newer concept in the U.S, critical illness insurance has been very popular in the United Kingdom, Canada and Japan for the past decade. It takes the concept of supplemental coverage for cancer and expands it to cover heart attack, stroke, organ transplant, kidney failure and other serious illnesses and medical conditions. Rather than paying a reimbursement for expenses incurred, critical illness insurance usually pays a lump sum, tax free, upon the first diagnosis of the covered critical illness. The lump sum may be as low as $5000 or as much as $50,000 and higher. The employee chooses the amount that best fits his/her needs and budget. Wellness benefits may also be included. Coverage is offered for the employee, spouse and/or children. Critical illness insurance is another product that provides an excellent supplement to help offset higher deductibles, out-of-pocket limits and out-of-network exposures.

Long Term Care Insurance
Long term care insurance is frequently discussed as an employee voluntary benefit but is not purchased with great frequency under the age of 60. When offered in a voluntary benefit program, participation is normally less than 5%. These policies provide benefits to individuals who are unable to care for themselves due to either a cognitive or functional impairment. Typically, the policies pay a set amount per month such as $3,000 or $4,000 for as long as the person needs nursing care, or for a shorter benefit period such as two, three or six years.

Limited medical benefit plans
Consequences for employers offering mini-med plans: Limited medical benefit plans, commonly called "mini-meds," provide insured coverage for largely low-cost or routine care. Many of these plans have no deductible and low cost-sharing, making them popular offerings for low-income workers. However, these plans typically provide low coverage levels by imposing annual and lifetime dollar limits, benefit schedules or a combination on all services. This design enables insurance carriers to keep premiums exceptionally low, adding to the plans' popularity. How and when PPACA's lifetime and annual dollar limit restrictions will affect mini-med plans depends on their design:

  • Mini-meds with lifetime dollar limits. Some mini-meds impose a very low lifetime dollar limit on benefits. For example, while a comprehensive group health plan might impose a lifetime benefit limit of $2 million, a mini-med plan's lifetime benefit limit might be $20,000. Mini-med plans with any lifetime dollar limits probably will disappear by October 2011 because of the general ban on lifetime limits for plan years beginning on or after Sept. 23, 2010.

  • Mini-meds with annual dollar limits. Instead of (or in addition to) a lifetime dollar maximum, many mini-med plans impose annual dollar limits - sometimes by service type, sometimes per illness and sometimes per covered individual. Once the exception for restricted annual limits on essential benefits expires in 2014, mini-med plans with annual dollar maximums will almost certainly become a thing of the past. Until then, plans might be permitted to impose some annual limits, but regulatory guidance will determine to what extent these limits may apply. While awaiting that guidance, insurers and plan sponsors finalizing benefit decisions for the coming year can only make a good-faith determination as to what annual dollar limits can be included.
  • Fixed indemnity insurance plans. A third type of mini-med plan uses scheduled benefit limits, rather than annual or lifetime dollar limits, to keep costs low. These plans typically pay a set amount per doctor visit or inpatient hospital stay - for example, $35 for a doctor visit or $500 per day for a hospital stay, regardless of the actual cost. Under PPACA, insured plans that provide a fixed dollar benefit for each service without
Legal Service Plans
Legal service plans can bring significant value to the average employee who does not have an attorney and/or is not familiar with the legal system. There are several approaches from a very low-cost plan that provides access to a network of attorneys, with free consultations, up to a full service program which could have as much as 46 hours of legal services prepaid for a family during the year. Most offer free services such as simple wills, living trusts, etc. Attorneys in these networks are usually good since the law firms find this to be a good source of contingent fee work. These plans are more popular when ID theft, immigration law and debt counseling are included as benefits.

Dental Coverage
Dental benefits are typically provided through employer group programs. However, with the increasing cost of medical insurance, many employers are no longer paying for this coverage, and are converting it to an employee-pay-all program. Plans are available both on a pre-paid basis and also as traditional indemnity insurance.

Vision Coverage
Vision plans can vary from a simple discount card to a network of providers to a full-service plan that provides coverage for exams, lenses and frames every year. Since not every one of your employees needs eyewear, vision programs are frequently offered on a voluntary basis.

Personal Lines Coverage
These programs offer homeowner and auto coverage to employees at discounted group rates with the opportunity to pay premiums on a monthly or semi-monthly basis rather than annually or semi-annually. There is typically no guarantee of coverage and some employees will be declined due to driving records, zip codes, vehicles, etc.

Computer Purchase Program
This program gives employees the opportunity to purchase new state of the art computers through payroll deductions. Employees will have credit guaranteed with zero percent interest. This can be a great vehicle for increasing computer literacy.

Pet Insurance
Veterinary care has become very expensive. Pet insurance can provide reimbursement for veterinary care for dogs, cats and other animals. Rates vary by the type and age of the animal and older animals are sometimes required to submit to a veterinary exam.

If you are interested in knowing more, we can provide more detailed information on any of the above benefits.



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