19
Jun
2017
Madison, WI - A new type of insurance is available in Iowa these days. If someone becomes laid off or will be disabled and unable to work for more than 30 days, it pays something called a lump sum benefit-all the money gets paid as soon as a claim is approved. It's from SafetyNet(tm), a wholly owned division of Madison, WI based CUNA Mutual Group. They report that the new product is rapidly gaining customers across the state.
Dan Kaiser leads the SafetyNet product team and is a Senior Vice President at CUNA Mutual. He explained how this new type of insurance started: "We asked a lot of people about their financial situations and struggles. We read extensively about consumers, trends and needs in financial services. One of the biggest issues for people is something where there are few good solutions: when people most need emergency money, their options for help are limited and expensive.
"There has not been a good solution offered by any company in the past to help people-but now there is. The solution is a financial safety net to help millions of hard working Americans."
SafetyNet offers paycheck protection insurance to Iowa and Wisconsin residents. The insurance policy pays a lump sum of $1,500-$9,000 if someone loses their paycheck due to no fault of their own or becomes ill or disabled, preventing them from working 30 days or more. Customers choose a monthly rate, between $5 to $30. Anyone can sign up online at SafetyNet.com.
Even though the Department of Labor announced that Iowa's unemployment rate is lower than before the recession, unexpected job loss remains a major fear for many families. "The recession may be over, but we're at a time and a place...where nothing is guaranteed," says Justin Lockridge, who recently purchased SafetyNet.
Steve Millen, a customer in Stanley, WI, signed up just months before his office unexpectedly closed. "I'm glad I stumbled upon SafetyNet," he says. "My favorite thing about SafetyNet is the ease of purchase and the peace of mind." Steve felt less stress, he says, because the insurance policy helped him pay his bills while he looked for a new job.
Donna Hellenbrand, a customer in Milwaukee, says that SafetyNet is different from other short term disability products on the market, "My claim was approved within 2 days and I received $6,000 within the same week. I am so impressed with their speedy claims process and follow-up. This is a company that genuinely cared about me and helped me."
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SafetyNet(tm) is a wholly-owned division of CUNA Mutual Group, an 80+ year-old, multi-billion-dollar financial services group. Based in Madison, WI, the SafetyNet team of experienced financial experts, entrepreneurs and corporate leaders is dedicated to the mission of financial wellbeing for millions of hardworking Americans. For more information, visit www.SafetyNet.com or call Mark Greene at 608-665-4252.
