Venture Fund in Massachusetts
Aspen HR saved our venture fund client $95,000 in life premium for their employees, as well as eliminated the physical and financial underwriting process for each employee. The client has 20 employees in Massachusetts and provides seed-to-growth stage funding to various sectors.
The client had established life and disability policies for their employees and executives but was unable to get group plans rich enough. So instead, they procured individual plans for each employee paying over $110,000 in annual premium and countless hours of financial and physical underwriting.
Aspen HR provided group and voluntary life up to $1M that exceeded their current payout level and matched a long-term disability plan that the staff was thrilled about.
We saved the client $95,000 annually and no more future time spent on individual underwriting while keeping them compliant with all HR regulations.