RALEIGH, N.C., Aug. 28, 2012 /PRNewswire/ -- BB&T Insurance Services today said it has added supplemental unemployment insurance to its growing lineup of online product offerings at http://insurance.bbt.com.
IncomeAssure®, the nation's only supplemental unemployment insurance offering, enables BB&T clients to manage the financial risk resulting from job loss. This new offering puts those with jobs in control of their financial well-being. With IncomeAssure, if a person is laid off, they receive 50 percent of their former earnings, replaced through a combination of state coverage and IncomeAssure benefits payments.
"BB&T is proud to take the lead in offering a product that truly goes to the heart of what so many of our customers worry about on a daily basis," said Randy Screen, manager of the Marketing and Sales unit at BB&T Insurance Services. "IncomeAssure allows our clients to protect themselves from financial risk and allay anxiety during this difficult economy. This offering is something we have not been able to offer our customers before and something we're pleased to make available now."
- Rates and benefits are customized to each individual's circumstances and vary by state, industry and the level of benefits desired
- Flexible payment options are available: annual, quarterly and monthly premium payment plans
- Low premiums: Monthly costs can be as low as $10. On average, premiums are approximately 1 percent of annual income.
"We are tremendously excited to be launching with BB&T," said IncomeAssure Chief Executive Officer Greg Sawers. "We applaud BB&T's continued dedication to product innovation. By offering IncomeAssure, BB&T is once again demonstrating its commitment to its customers."
About IncomeAssure and Assura Group of NY, Ltd.
Assura Group was founded in 2006 to address a critical unmet need in the market – private unemployment insurance. Assura Group's unemployment insurance product, IncomeAssure, is currently available in 46 states across the country and in the District of Columbia. IncomeAssure is underwritten by Great American Insurance Company, rated "A" (Excellent) by A.M. Best (as of March 29, 2012). To learn more about IncomeAssure, visit www.incomeassure.com.
About BB&T Insurance Services
Raleigh, N.C.-based BB&T Insurance Services, a wholly owned subsidiary of BB&T Corporation, is the sixth largest insurance broker in the U.S. and the seventh largest internationally as measured by total revenue. BB&T Insurance Services operates more than 100 insurance agencies in North Carolina, Virginia, Georgia, South Carolina, Maryland, West Virginia, Tennessee, Florida, Kentucky and California. It consistently earns Greenwich Excellence customer satisfaction awards for large corporate and middle-market insurance brokerage in the United States. Visit http://insurance.bbt.com to learn more.
BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $178.5 billion in assets and market capitalization of $21.6 billion, as of June 30, 2012. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
SOURCE BB&T Corporation