Our producer compensation disclosure policy
Colonial Life's mission is to help America's workers preserve and protect the vitally important things they've worked so hard to build.
A trusted benefits advisor can offer you advice and guidance as you select the insurance programs and services that best fit your company's needs.
We recognize the important role these benefit advisors play, and we compensate our producers to facilitate the sale and delivery of these valuable benefits. The compensation may include commissions, as well as various incentives and awards.
Parts of the benefits industry have at times been under scrutiny regarding disclosure of compensation payments to insurance producers. In that light, we conducted a review of our producer compensation practices.
Our compensation processes support our customer focus
We believe our compensation arrangements with our producers have been conducted with honesty, fairness and integrity. In addition, we realize having trusted relationships between our producers and our customers is essential to all involved. To ensure this trust continues and to address any concerns within the industry, we developed our policy on producer compensation disclosure.
Simply, the policy states that we support full disclosure of advisor compensation to our customers and prospective customers. In addition, we have controls in place to facilitate this disclosure. We are confident that our compensation disclosure policy is a positive move for our valued clients and their trusted benefits advisors.
If you are a Colonial Life customer, or employer of a potential Colonial Life customer, and have questions regarding producer compensation related to your organization's insurance plans, please contact your insurance advisor. You may also learn additional information about Colonial Life's compensation programs by contacting our plan administrator service center at 800-256-7004.