Aflac Adds Beneficiary Companion Services to its Group Premier Life Absence Disability Solutions Portfolio
Friday, March 31st, 2023
When a loved one passes away, paperwork should be the least of a survivor's worries, but beneficiaries work with multiple companies and institutions, making many decisions, when settling affairs after a family member or close friend passes. To address this challenge, and to add value for its customers, Aflac, a leading provider of supplemental health insurance, is partnering with Iris Powered by Generali, to provide Beneficiary Companion services for individuals insured by Group Life Insurance from Aflac's Premier Life, Absence and Disability Solutions. Beneficiary Companion services assist individuals and their beneficiaries with navigating the often-complex administrative details related to death, including monitoring and resolving identity information and potential theft.
While individuals are most impacted by grief, workplaces can also be affected. According to the Grief Recovery Institute, the cost of workplace grief due to employees' losses of loved ones is estimated at $37.5 billion annually,1 and the grieving of survivors can be extended particularly as situations like identity theft add to the challenges of those left behind. Additionally, AARP reports that the identities of nearly 2.5 million deceased Americans are stolen each year,2 resulting in additional time, cost and emotional strain to the survivors resolving the theft.
"End of life is a very difficult topic to discuss, but the reality is that there are many challenges that arise with the death of a loved one. We believe stress associated with complicated paperwork and the potential of crimes like identity theft shouldn't be among them," said Scott Beeman, senior vice president, Premier Life Absence Disability Solutions. "Beneficiary Companion enables employers to offer peace of mind to employees through assistance that helps their workforce with the practical matters of life, including closing a loved one's affairs during an already difficult time."
In addition to being available to the beneficiary of the insured employee, Beneficiary Companion is also available to the employee to use in the event of the loss of a loved one if they have the legal authority to act on behalf of the deceased. This includes the Beneficiary, Executor of the Estate and Beneficiary Representative.
"Beneficiary Companion helps bring relief from the confusion and frustration that many face while trying to manage a loved one's final affairs," said Paige Schaffer, CEO of Iris. "The unique and personalized service that Beneficiary Companion provides helps send a powerful message to employees about how their employers care for them and their families."