In a company press release, PFG said the Principal Work Secure program provides employees access to a team of salaried financial professionals at the workplace who can help them evaluate their insurance and/or financial needs and then select the most appropriate type and level of voluntary benefits available through their employer.
In the new program, the employer meets with a salaried Employee Benefits Specialist from PFG to develop an enrollment strategy for the voluntary benefits the employer chooses to offer employees, such as dental, disability, and life insurance. The benefits specialist then meets one on one with each employee in the workplace or via phone.
The specialist provides an overview of the employer-sponsored benefits available and helps the employee identify potential shortfalls of the employer benefits in meeting the needs of his or her family. Finally, a team of financial professionals work with the employee to tailor product solutions, both inside and outside of their group plan, based on the identified needs.
“If an employee is given the opportunity to meet with a financial professional at the workplace to discuss insurance and financial goals, our experience shows that the employee will benefit by putting a plan in place, eliminating the worry that comes with ambiguity. That translates to peace-of-mind for the employee, and a more productive workforce for the employer,” said Deanna Strable, senior vice president of the Specialty Benefits Division of PFG, in the news release.
PFG recently also launched Principal Retire Secure to address employees’ retirement planning needs (See Principal Releases New K Plan Version ).