When an employee elects a life insurance policy that is over the Guaranteed Issue amount or changes their existing benefits greater than a certain amount, they must complete an Evidence of Insurability (EOI) application. Traditionally, this meant printing the carrier’s EOI form, filling it out by hand, mailing it back and waiting for them to receive and review it. This process allows for many errors including forms being filled out wrong, lost in the mail or delayed responses from carriers. Mistakes like this can be devastating – The last thing you or your employees want is for them to think they’re covered when they’re really not.
We’ve recognized that this pain-staking and unreliable process is outdated, which is why PlanSource has partnered with leading insurance carriers and invested in automated EOI integrations to bring a paperless EOI process to our customers. Check out why these key benefits make automated EOI critical for a positive benefits experience.
PlanSource’s EOI integrations include Single Sign-on so employees can complete EOI questions online right within the shopping experience. This process is far more efficient for employees and prevents mistakes such as printing the wrong form or filling it out wrong. Whether your employees are enrolling on a computer or on their mobile device, they can enjoy this streamlined experience. There’s no need to put off EOI paperwork for a later time when it’s conveniently integrated in the benefits shopping experience.
Prior to having the EOI integration in place I was chasing down employees for 3 months trying to get the forms completed. This year, all forms were completed right away during the shopping experience! It’s amazing!
Reduced Wait Time
Automated Decision Notification
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