Banner the number of retirees could nearly double by 2030. Will that do a number on your bottom line?

Baby Boomers Are the Largest Generation in American History and now They Are Starting to Retire2.

Employers with retiree life insurance benefits have to think long and hard about how they're going to cover the rising premium costs, and how they're going to cope with complex administration.

At The Prudential Insurance Company of America (Prudential), we offer innovative solutions that can help employers address these escalating challenges. From removing or offsetting liabilities to making these benefits available on a voluntary basis, our Retiree Life Insurance Solutions make it possible for them to keep top talent and keep their promise to retiring employees.

Featured Literature
Retiree Life Solutions
Minimize costs and administrative burdens while protecting retirees and their loved ones.
As employee demographics shift toward an older workforce, employers are confronted with a number of challenges. Retiree benefit costs are increasing and retiree benefits also come with certain liabilities, such as FAS 106 (ASC 715).* Retirees often need more support than active employees, making administrating their benefits more complicated. Prudential’s Retiree Reducing Term life insurance can help you meet these challenges.

Retiree Life Solutions - Download PDF (15300 KB)
Retiree Life Insurance White Paper
Solutions that help employers maintain a valuable benefit program.
While it may appear that retirees have little need for life insurance, this benefit addresses critical financial needs in retirement. Retiree life insurance can help a surviving spouse fund funeral expenses, living expenses, or costs associated with the care of children or grandchildren. This document describes a comprehensive set of solutions to help employers maintain some level of retiree life insurance benefits for employees.

Retiree Life Insurance White Paper - Download PDF (148 KB)
Voluntary Retiree Reducing Term
Meeting the growing need for retiree benefits.
As the retiree population grows, there will be a growing need for affordable and easy-to-obtain life insurance options. Voluntary Retiree Reducing Term (RRT) Life Insurance issued by Prudential can be offered at no employer cost or added administrative burden. RRT is a unique benefit that provides level-cost retiree life insurance coverage. The product has been designed to be a strong complement to other offerings for current and future retirees.

Voluntary Retiree Reducing Term - Download PDF (358 KB)
Retiree Life Buyout
A real solution for managing retiree benefits costs.
A Retiree Life Buyout can help a company meet the challenge of removing its existing liability for post-retirement life insurance on a simple and cost-effective basis—without impacting retirees or their benefits. The employer can remove part or all of the liability through a lump sum premium payment and remove the FAS 106* liability from the company’s balance sheet for a distinct group of retirees.

Retiree Life Buyout - Download PDF (828 KB)

Back


* Accounting Standards Codification (ASC) Topic 715, Compensation Retirement Benefits. Prudential does not provide tax, legal, or accounting advice. Therefore, the employer should consult its own tax advisor and/or accounting advisor regarding the tax implications and/or FAS 106 accounting implications of the retiree life liability transfer arrangements they enter into with Prudential.

1 Department of Health & Human Services, Administration on Aging, http://www.aoa.gov/AoARoot/Aging_Statistics/index.aspx, 2009

2 Gillon, Steve; Boomer Nation: The Largest and Richest Generation Ever, and How It Changed America, Free Free Press, 2004.

Group Disability and Voluntary Reducing Term Life Insurance coverage is issued by The Prudential Insurance Company of America, a Prudential Financial company, 751 Broad Street, Newark, NJ 07102. The Group Contract discusses all details, including any policy exclusions, limitations, and restrictions, which may apply. Contract Series: 83500.

© 2013 Prudential Financial, Inc. and its related entities.


0217773
0217773-00003-00