WraPPlan® from HG Insurance Services (HGIS) is a unique solution designed to address a major gap in employee life insurance benefits—coverage after retirement. Traditional employer-sponsored Group Term Life insurance typically ends when an employee retires, leaving them without continued protection. WraPPlan® fills this void by offering a voluntary, portable life insurance option that builds paid-up value over time.
Overview of the WraPPlan® Program
WraPPlan® works by allowing employees to wrap Universal Life coverage around their existing Group Term Life insurance. This structure builds cash value over time, enabling the employee to convert to a paid-up permanent life insurance policy by age 65. The program is underwritten by Transamerica Assurance Company, bringing trusted carrier strength to the offering. In New York, coverage is provided by Transamerica Life Insurance Company of New York.
Ideal Accounts and Appetite
This program is ideal for employers offering Group Term Life policies who want to provide a valuable voluntary benefit without taking on additional costs. It is especially appealing for industries with long-term employees who may lack personal life insurance outside of their group benefits. Brokers can target mid- to large-sized businesses where employee retention and post-retirement planning are key concerns. Participation rates often exceed 50%, making it a compelling workplace benefit.
Coverage Highlights and Advantages
- Voluntary benefit with no employer premium obligation.
- Portable and permanent* life insurance protection for employees.
- Minimized death benefit keeps premiums affordable.
- Paid-up policy at age 65 to replace lost Group Term Life coverage.
- Straightforward concept—“keep what you have, don’t lose it.”
- Strong carrier backing by Transamerica provides stability and credibility.
Underwriting Notes and Enrollment Simplicity
- Reasonable underwriting—approximately 95% of enrollees qualify immediately.
- Enrollment is simple, often supported by qualified enrollers with computerized systems.
- Premiums are based on the employee’s age at enrollment, not retirement.
- No duplication of existing Group Term Life coverage is required.
Territories and Availability
WraPPlan® is available in most U.S. states, including but not limited to CA, TX, FL, NY, and IL. Full availability includes 48 states plus Washington, D.C. Brokers can confidently present this opportunity to clients across the country, with the assurance of a broad geographic footprint.
Why Work With HG Insurance Services
HG Insurance Services, a Heusinkveld Group company, specializes in niche insurance programs designed to meet real client needs. With WraPPlan®, brokers gain access to a distinctive, proven solution with limited market competition. HGIS supports brokers with streamlined administration, professional enrollment support, and generous compensation—especially on larger cases. Whether you’re serving a manufacturing firm with aging employees or a school district looking to enhance their benefits package, WraPPlan® offers a powerful edge.
To learn more or to get started, contact George Schmid at (949) 249-3834 or John Burkart at (949) 548-1629.
Frequently Asked Questions
What types of accounts are a good fit for this program?
WraPPlan® is best suited for employer groups offering Group Term Life insurance, especially those with long-tenured employees or limited post-retirement benefits.
How does the WraPPlan® benefit employees?
It allows employees to build cash value toward a paid-up life insurance policy by the time they retire, ensuring continued life insurance after leaving the workforce.
What makes this program attractive to brokers?
WraPPlan® is a unique, low-competition product with high participation potential and strong carrier backing. It also offers generous commissions and easy administration.
Is employer participation required?
No. WraPPlan® is a voluntary benefit, so there is no cost or mandatory involvement for the employer beyond basic support for employee enrollment.
What is the underwriting process like?
The program uses simplified underwriting, and most employees—about 95%—qualify immediately, making enrollment efficient and hassle-free.
Need help placing an account? Connect with a market specialist.