Life insurer touts fitness: Minnesota Life doesn't want to offer just a 'side-dish' benefit
By Nicole Garrison-Sprenger, Pioneer Press
Where are corporate benefit administrators spending most of their time these days? On reducing health care costs and finding ways to get employees to lead healthier lives.
That trend has made selling life insurance a bit more difficult than it has been in the past, said Paula Bilitz of Minnesota Life Group Insurance.
"We end up being a side-dish benefit," said Bilitz, director of marketing for Minnesota Life, an affiliate of St. Paul-based Securian Financial Group.
And that's not where Securian, with $490 billion in life insurance in force, wants to be.
"If we want to continue doing business with employers, we need to find ways to address the concerns they have," Bilitz said. "And we were looking for ways to differentiate ourselves in the group life marketplace."
So Minnesota Life decided to offer a health and wellness program in conjunction with its group life insurance plans.
The program is provided by Ceridian LifeWorks, an arm of Bloomington-based Ceridian's human-resources business and its recently-acquired health-coaching firm, Leade Health. Minnesota Life will take the lead on selling the package, giving Ceridian expanded distribution of its LifeWorks program.
Though it might seem like an unusual pairing of benefits to some, Zachary Meyer, senior vice president of Ceridian LifeWorks said life insurance and a wellness program is an ideal combo.
"What they do is provide security for families after the death of a loved one," he said, referring to Minnesota Life. "What we do is complement that by helping people get the most out of life."
Dan Schwartzer, executive director of the National Association of Professional Benefits Administrators, was more cautious about how benefits administrators might react to a life insurance company selling health and wellness programs.
"Will it get attention? Potentially," he said. "We'd have to wait and see."
Copyrighted © 2007 by St. Paul Pioneer Press, a Media News Group publication. Reprinted by permission.
Where are corporate benefit administrators spending most of their time these days? On reducing health care costs and finding ways to get employees to lead healthier lives.
That trend has made selling life insurance a bit more difficult than it has been in the past, said Paula Bilitz of Minnesota Life Group Insurance.
"We end up being a side-dish benefit," said Bilitz, director of marketing for Minnesota Life, an affiliate of St. Paul-based Securian Financial Group.
And that's not where Securian, with $490 billion in life insurance in force, wants to be.
"If we want to continue doing business with employers, we need to find ways to address the concerns they have," Bilitz said. "And we were looking for ways to differentiate ourselves in the group life marketplace."
So Minnesota Life decided to offer a health and wellness program in conjunction with its group life insurance plans.
The program is provided by Ceridian LifeWorks, an arm of Bloomington-based Ceridian's human-resources business and its recently-acquired health-coaching firm, Leade Health. Minnesota Life will take the lead on selling the package, giving Ceridian expanded distribution of its LifeWorks program.
Though it might seem like an unusual pairing of benefits to some, Zachary Meyer, senior vice president of Ceridian LifeWorks said life insurance and a wellness program is an ideal combo.
"What they do is provide security for families after the death of a loved one," he said, referring to Minnesota Life. "What we do is complement that by helping people get the most out of life."
Dan Schwartzer, executive director of the National Association of Professional Benefits Administrators, was more cautious about how benefits administrators might react to a life insurance company selling health and wellness programs.
"Will it get attention? Potentially," he said. "We'd have to wait and see."
Copyrighted © 2007 by St. Paul Pioneer Press, a Media News Group publication. Reprinted by permission.
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