Fringe Assist came into being as a result of attentively listening to insurance producers that serve the government contractor market. An innovative product was being sought that would not only provide the usual reduction in payroll burden contractors expect from their fringe expenditures, but would go well beyond the typical group benefits offering. Producers sought a new capability that would help their clients become more profitable by helping to attract and retain top talent while at the same time creating a more financially secure workforce – one that is more productive than those that struggle and are distracted due to personal financial issues that often follow employees to work.
Fringe Assist uncovered a void in the marketplace that others had not recognized. Permanent life insurance, the cornerstone of most employees’ personal financial security plan, was not available to workers in the prevailing wage market. And while group term life is often provided, the risk inherent with over reliance on employer provided group term life is profound.
Working in conjunction with the leading life insurance carriers in America, Fringe Assist has developed a proprietary group permanent life insurance solution that is now available to the government contractor for the first time.