Do you know what a pension broker does, or what the difference between a broker and an insurance agent is? Are you fully aware of what falls under pension coverage? Find the answers below, where we have compiled a series of the most frequently asked questions that we hear at Ensure Pension.
What does a pension broker do?
A pension broker provides guidance on all aspects of the client’s benefit plan and handles all processes involved in implementation and ongoing service. We handle needs analysis, parameter selection, request quotes and receive proposals, manage recommendations, implementation, communication, and provide individual and unbiased advising to participants, ongoing support, advising review and general operation.
What is the difference between an insurance broker and an agent?
A broker is the client’s guarantee of unbiased advising. An insurance broker provides advising services and combs through offers from all pension providers on the entire market to arrive at insurance solutions that best fit the client needs.
An insurance agent, on the other hand, is employed by one pension provider solely for the purpose of selling their specific solutions.
What does a benefit plan cover?
When it comes to attracting and retaining skilled employees, a competitive benefit plan is a fundamental cornerstone in a company’s overall remuneration package. In addition to the actual pension savings, a plan typically includes a number of insurance provisions in the event of an accident.
What makes our analysis platform unique when it comes to figuring out pensions?
For most people a benefit plan is a complicated matter, and there is a long series of parameters that should be factored into the decision-making process. Many of these decision-making parameters are measurable from a mathematical perspective, and Ensure always guarantees an accurate, attentive and transparent picture for our clients. In terms of both choice of providers and, in particular, individual advising to participants in the benefit plan.
What do you need to consider when looking to choose the “best” pension solution?
The “best” benefit plan is an individual consideration, and the parameters that prove decisive when it comes to choice of provider may vary. Ensure provides you an overview of the various parameters and helps match you with the best providers, not only in terms of creating optimal value for pension contributions, but also for peripheral benefits involving health and prevention.
What challenges might arise in the decision-making process?
Do you know what challenges can arise if you as the decision-maker or the company in deciding on what pension solution is best for the needs of your employees? Selecting/changing provider is a relatively large step for most clients, and is a large responsibility to assume with respect to pension funds and insurance coverage of employees. This is what makes it so important for all aspects to be carefully considered and analysed in depth. Compromises may be taken in the process, and it is important to be able to communicate clearly about an updated solution. Ensure is your guarantee of a thoroughly considered decision, where all parameters have been identified and compared, so you deliver for your employees.
Have more questions?
We are only a call away anytime you have additional questions or need more information about these matters. Our team of competent advisers can provide you additional guidance on all pension-related matters. We look forward to assisting you.