HomeMy WebLinkAboutNational Insurance SErvices 2023 Signed Renewal - 5.15.2023;Bent Focused. Solution Driven.
Nallo la l Inserarico hotvices
March 6, 2023
Lance Dunn
Human Resources Director
City of Waterloo
715 Mulberry Street
Waterloo, IA 50703
RE: Group Term Life and Long Term Disability Insurance Renewal
Dear Mr. Dunn:
The City of Waterloo's Life Insurance and Long Term Disability ATP policies renew on July 1, 2023. I am pleased
to inform you that Madison National Life Insurance Company, Inc has determined that no rate adjustments are
needed. Your renewal rates are as follows:
Current Rate
Renewal Rate effective 7/1/2023
Basic Life / AD&D
$0.21 /
$0.03 per
$1,000
$0.21 /
$0.03 per
$1,000
Employee Supplemental Life
$0.27 per
$1,000
$0.27 per
$1,000
Spouse Supplemental Life
Age Rated
Current Age Rates
Child Dependent Life
$1.50 per amily
$1.50 per family
Long Term Disability
(ATP policy)
$0.42
per employee per month
$0.42 per employee per month
These rates are guaranteed for 2 Years unti July 1, 2025, assuming no changes to he current benefit structure.
Your fully insured Long Term Disability policy is in a rate guarantee until July 1, 2024.
We believe our level of commitment to you is most evident in our ongoing efforts to secure both competitive pricing
and extended rate guarantees. We truly appreciate your business and the opportunity to continue negotiating on
your behalf,
In return for your commitment to National Insurance Services (NIS), NIS agrees to provide the following:
• Annual Best Practices Service Visit or Call
• Dedicated Account Representative
• Dedicated Client Relations Representative
• Dedicated Billing Representative
• Free Gap Analysis (when requested)
• Compliance with State Bid Laws
• Monitoring Market Conditions
By signing the below, you are acknowledging your reciprocal 2 Year commitment to NIS. In pricing the renewal, the
claims risk and administrative expenses are spread over the rate guarantee. In exchange for our rate guarantee,
you must remain directly contracted with NIS for the duration of the rate guarantee. In the event you cancel prior to
the end of the rate guarantee a risk charge in the amount of 1 %of annual premium will be assessed for each
month remaining on the rate guarantee.
Corporate Headquarters: 300 North Corpol ate DI ive, Suite 300, Brookfield, WI 530451 offices Nationwide:800.627.36GO I www.NISBenefits.com
Client Foctrse;d. Solution Driven.
Nationil I Set
Please complete the bottom portion and return a copy to National Insurance Services as indication of your
acceptance of the renewal. Thank you for your continued business. Please do not hesitate to call me if you have
any questions.
Sincerely,
Megan Ware
Market Development
The July 1, 2023 renewal of Group Life Insurance and Long Term Disability (ATP) as outlined above is accepted.
U� /g 41444 6Pial
Signature & Title Date
Renewal eForm # 13572 & 13500
Cotporate Headquarters:
00 Nod h Crnpui ate Di ive, State 300, Brookfield, WI 53045 'Offices Nationwide:800.627.3660 I www.NlsBeneflts.com