September 14, 1989
TO: INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 48-89
SMALL FUNDS MEMBERS NO. 7-89
RE: GROUP EMPLOYEE BENEFIT INSURANCE PROGRAM
__________________________________________________________
Last year, the Institute introduced the Benefit Source
Trust, a new employee benefit program for both members and
associate members.
The response to this announcement was excellent - in excess
of 25% of the membership responded and requested proposals for
one or more of the available plans. Members are continuing to
enroll each month.
With the increasing cost of health insurance, many members
were able to compare the Benefit Source Trust to their own plans.
In some cases the new plan offered substantial premium savings.
In other cases, while the life, dental or disability plans were
appealing, members decided to stay with their existing plans for
the time being. Nevertheless, the Benefit Source Trust offers
wide flexibility among the available benefits from which to
choose.
While the program is offered to firms of all sizes, groups
with fewer than ten (10) insured staff will need to complete
health questionnaires for each enrolling person. However,
Metropolitan Life, the insuror of the program, is prepared to
make special arrangements for larger firms, where appropriate.
In addition to the benefits summarized in the enclosed
brochure, Metropolitan is now offering the METLIFE Healthcare
Network in certain locations. This will include a broad based
hospital and provider network which may be used in place of the
existing health benefit plans. Many members have expressed
interest in this option.
If you would like further information, please send the
postage paid reply card to Hendrickson & Company, the Institute's
marketing group for the Benefit Source Trust. You will be
contacted promptly with more complete information allowing you to
make an accurate comparison with your present program.
Donald E. O'Connor
Vice President - Operations
Enclosure