Group Insurance Quotes
By:Emad Shalabi, Roger Vieira, Anthony Costa,
Khemraj Sookram & Rushiraj Parikh
Contrasting & Similar benefits
offered by: Geico and Allstate
These two Automobile insurance agencies are
among the most renown of the many, and
offer various benefits to its subscribers. Down
below are the evaluated aspects of both
corporations by, its consumers and critics.
Then we will measure the beneficial
contribution of the companies policies
towards the consumers side by side and
decide, which one is the most appealing for
the general mass populus.
The ratings of those insured by Geico
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Value Rating: 4.5 out of 5
Customer complaint Rating: 4.9 out of 5
Financial Strength Rating: 4.9 out of 5
J.D. Power Overall Rating: 2.5 out of 5
Consumers' Checkbook Auto Body Shop
1.6 out of 5
Insure.com Rating: 2.4 out of 5
A.M Best issuer Credit Rating: aaa
A.M. Best Financial strength Rating: A++
S&P Issuer Credit Rating: AA+
S&P Financial Strength Rating: AA+
-Rating:
The Ratings of those insured
by Geico
• J.D. Power Purchase Experience Rating: 2 of
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5
J.D. Power Property Claims Satisfaction
Rating: 3 out of 5
Geico Insurance is available in every state
excluding Arkansas
NAIC Market Share 9.58%
Direct Premiums earned : $15,346,176,564
Direct Premiums written: $15,346,176,564
The Rating of those insured
by AllState
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Value Rating: 3.5 out of 5
Customer Complaint Rating: 4.9 out of 5
Financial Strength Rating: 4.4 out of 5
J.D. Power overall rating: 3 out of 5
Consumers' Checkbook Auto Body Shop Rating: 1.7
out of 5
Insure.com Rating: 2.4 out of 5
A.M. Best Issuer Credit Rating: aaA.M. Best Financial Strength Rating: A+
S&P Issuer credit Rating: AA-
The Rating By those insured
by Allstate
• S&P Financial Strength Rating: AA• J.D. Power purchase experience Rating: 3 out of
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5
J.D. Power property claims satisfaction Rating:
3 out of 5
Insurance agency covers every state besides
District of Columbia
NAIC Market Share: 10%
Direct Premiums Earned: $2,147,483,647
Direct Premiums Written: $2,147,483,647
Benefits Offered By Gieco
Medical, Dental & Vision Coverage
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Full-time associates can select from a variety of medical plans, including our PPO plan or an
HMO plan where available.
Our plans offer competitively priced co-pays for office visits and prescription drugs.
The dental plan provides insurance benefits payable to any dentist across the country.
The vision plan provides a comprehensive eye exam and glasses or contact lenses.
GEICO pays a significant portion of associates' medical and dental insurance premiums.
Associate Assistance Program (AAP)
GEICO's AAP provides up to three phone and/or in-person counseling sessions at no cost. Health and
well-being benefits include:
Work/life balance programs
Smoking cessation programs, drug and alcohol assistance
Counseling for stress, anxiety and depression
Financial counseling and aid during crisis situations
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Benefits offered by Gieco
Long-term Disability (LTD)
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Full-time associates can voluntarily enroll in our LTD benefit.
After three years of consecutive service, GEICO will pay your basic LTD
premium. Associates may increase their LTD coverage by purchasing a
buy-up benefit.
Physical Fitness
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Many offices have on-site fitness centers or offer weight loss programs.
Local gym membership discounts may be available in some locations.
Some offices host classes such as tai chi, yoga, Pilates or aerobics.
Many associates participate in company-sponsored athletics, such as
volleyball, basketball, softball
Benefits offered by Gieco
Industry-leading Training
• GEICO’s paid training in sales, customer service, claims and auto damage is considered among the best in the insurance
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industry!
Most sales and customer service representatives are required to take and pass a state licensing exam. Once licensed,
there are continuing education requirements.
Tuition Reimbursement
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Eligible full-time associates may enroll in this program to further their undergraduate education at
an accredited community or four-year college.
The program will reimburse up to $5,250 per calendar year, and covers application fees, tuition,
course-related charges and up to 75% of textbook costs.
Insurance Studies
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To gain an in-depth understanding of our business, many associates participate in our insurance
studies program. Offered by The Institutes (AICPCU), courses are 100% reimbursable when the
national exam has been satisfactorily completed.
Some associates choose to study for the Chartered Property Casualty Underwriter (CPCU®)
professional designation and may be eligible for bonuses upon completion.
Benefits offered by Gieco
Job Post
• GEICO's internal job board allows associates to apply for new positions
and supports our promote-from-within corporate culture.
Family Scholarships
• These exclusive GEICO scholarships award thousands of dollars each
year to the children of our associates.
GEICO University
• GEICO offers hundreds of e-learning and instructor-led courses.
• Classes include: business and management courses, Six Sigma training,
diversity and ethics, Microsoft Office, project management, presentation
skills, business writing, statistics, and more!
Benefits offered by Gieco
Traditional and Roth 401(k) Plans
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There is no waiting period to enroll.
You are auto-enrolled to make a 3% pre-tax contribution into the plan.
You can make pre-tax and/or post-tax contributions.
We offer over 20 investment options through Vanguard.
Because we're a Berkshire Hathaway subsidiary, associates can elect to invest in
class B Berkshire stock (NYSE: BRKb).
You can manage your accounts quickly and easily through the Vanguard Web site.
Profit Sharing Plan*
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This plan rewards associates based on two key factors: policy growth and
underwriting performance. Over the last 10 years, GEICO's contributions to this plan
have averaged 21.5% of associates' eligible earnings.*
Your share of any company contribution up to 10% is deposited directly to your
401(k) account. Any profit sharing award in excess of 10% of eligible earnings is
paid to you by check.
Benefits offered by Gieco
Flexible Spending Accounts (FSA)
• Health Care FSA allows you to set aside pre-tax money each year to pay
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for eligible out-of-pocket medical expenses; a debit card can be used for
routine co-pays and prescriptions.
Dependent Care FSA allows you to set aside pre-tax money each year to
pay for eligible dependent day care expenses.
Life Insurance
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GEICO offers basic group life insurance at no cost to our associates and
optional life insurance at very low rates.
Our provider offers free will preparation and travel coverage services.
Accident Insurance
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We provide travel accident insurance for eligible associates traveling on
company business.
Associates may also enroll in voluntary group accident insurance at
affordable rates for themselves and their eligible family members.
Benefits offered by Gieco
Associate Assistance Program (AAP)
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The AAP provides legal assistance, debt services and financial
consultation to associates at no cost.
GEICO Federal Credit Union
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Provides convenient, on-site banking and ATMs.
Associates can secure their money in insured accounts.
Our credit union offers home, car and education loans at competitive
interest rates.
Matching Gifts Program
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GEICO will match donations to charities, colleges and universities allowing
our associates to financially support organizations of importance to them.
Benefits offered by Gieco
Paid Vacation and Holidays
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Our full-time associates accrue 10 days of paid vacation per year for the first five
years of service, 15 days after five years, and 20 days after 15 years. Part-time
associates accrue paid vacation time based on the number of hours worked.
GEICO associates receive six paid holidays and four floating holidays each year.
These days can be used to extend a vacation, celebrate another holiday or just to
relax.
Sick Days and Leave Programs
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Our full-time associates accrue 10 sick days per year for the first five years of
service, and 15 sick days per year after five years. These can be used for their own
illness or medical appointments.
Eligible associates also receive personal leave, jury duty leave and bereavement
leave.
GEICO supports our associates who serve in the military, and provides military
leave with pay as applicable under our policies.
Benefits offered by Gieco
Dependent Care FSA
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This plan allows you to set aside pre-tax money (up to IRS limits) each
year to pay for eligible dependent day care expenses.
Adoption Assistance
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GEICO provides up to $5,000 in assistance per adoption.
Long-term Care Insurance Plan
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This plan will help you pay for in-home or nursing home care, or home
modifications needed to care for an eligible family member.
Once you enroll in the plan, the premium you pay will never increase.
Benefits Offered by Gieco
Associate Assistance Program (AAP)
GEICO's AAP provides up to three phone and/or in-person
counseling sessions at no cost. Family and life benefits
include:
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Work-life balance programs
"Baby Welcome" program
Day care and elder care referrals
Counseling for stress, anxiety and depression
Financial counseling, aid during crisis situations and legal consultation
Benefits offered by Gieco
Amenities
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GEICO Federal Credit Union allows associates to bank where they work.
Many locations have fitness facilities or offer exercise classes.
Associates in most locations enjoy onsite cafeterias.
We provide training and educational classes through GEICO University.
Other Benefits & Perks
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We enjoy a business casual environment and casual dress days.
GEICO offers associate auto insurance discounts where applicable.
Our offices provide free or very low-cost parking.
There are special commuter programs for people working at our D.C. area office.
Some offices offer discounts on local gym memberships.
We offer discounts on travel, computers, flowers, cell phones and other products
and services through special partnerships.
Through our Corporate Community Citizens program, associates can volunteer and
give back to the neighborhoods in which we live and work.
Benefits Offered By Allstate
Group Term Life Insurance
Term Life Insurance coverage can ease the financial burden brought upon by the death
of a family’s primary provider. Accidental Death and Dismemberment can be added
and provides benefits in the event of death or loss of limb resulting directly or
independently of all other causes from accidental bodily injury.
Group Universal Life Insurance
Universal Life Insurance coverage provides a death benefit and, over time, provides taxdeferred fund value accumulation that may be used for retirement, children’s
education or emergencies.
Short Term Disability
Short Term Disability coverage provides monthly benefits for a period of up to 26 weeks.
Long Term Disability
Long Term Disability coverage provides monthly benefits for an extended period of time.
Benefits offered by Allstate
Dental
Dental coverage provides coverage with a built-in wellness benefit.
Limited Benefit Medical Plan
AHL minimedical® coverage offers a scaled down health plan with annual limits
to keep the plan affordable.
Critical Illness
Critical Illness coverage pays lump-sum benefits directly to the insured at the
time a covered illness is diagnosed.
Cancer and Specified Disease
Cancer and Specified Disease pays benefits that can be used for non-medical
related expenses that health insurance may not cover as a result of cancer
and 29 other specified diseases.
Benefits Offered by Allstate
Accident: Accident coverage pays lump-sum benefits for on- and off-the-job accidents,
in addition to existing medical coverage.
Hospital Indemnity
Referred to as SHOP (Supplemental Health Options Policy), pays predetermined
amounts for covered hospital, outpatient, nursing, transportation and physician
services.
Group Indemnity Medical
A limited-benefit supplemental hospital indemnity policy available to employees of
qualified groups.
Group Vision
A Group Limited-Benefit Plan that provides benefits for vision care, with an affordable copay schedule for Preferred Providers and a co-pay schedule for Providers of your
choice that are not on the Preferred list.
Major Medical Complement
Provides added protection should you be required to pay for expenses associated with
each hospital confinement that are applied to your deductible and coinsurance with
your current Major Medical Coverage. Coverage can be enhanced through the
addition of optional benefits including: Physician Office Visit Benefit, Outpatient
Benefit and a Wellness Benefit.
Benefits offered by AllState
Critical Illness Insurance
Critical Illness coverage pays lump-sum benefits directly to the insured at the time a
covered illness is diagnosed.
Universal Life Insurance
Universal Life Insurance offers fund value accumulation and a competitive interest rate. It
can help ease the financial burden brought upon by the death of one of the family’s
providers.
Term Life Insurance
Term Life offers an economical method of owning life insurance to cover a specific need
for a specific amount of time.
Cancer and Specified Disease Insurance
Policies for Cancer only or Cancer and Specified Disease Insurance. Pays benefits, in
addition to existing coverage, that can be used to help cover the costs associated
with the treatment of cancer and other specified diseases.
Benefits offered by Allstate
Accident Insurance (with Expanded Benefits)
Accident Insurance provides benefits for on- and off-the-job accidents or off-the-job only
accidents and pays a lump-sum benefit to the insured that can be used to help cover
the costs not paid by the primary insurer. Riders can be added to expand benefits.
Hospital Indemnity Insurance
Hospital Indemnity Insurance, referred to as SHOP, allows the insured to "shop" for the
supplemental health benefits that best meet their budget and needs.ce
(Supplemental Health Options Plan)
Heart & Stroke Insurance
Heart & Stroke Insurance pays benefits, in addition to existing coverage, that can be
used to help cover costs associated with the treatment for heart- & stroke-related
conditions.
Disability Income Insurance
Disability Income Insurance provides an income when the insured can’t work because of
a covered sickness or off-the-job accident.
Conclusion
After a tedious evaluation of both parties I
fairly conclude that Geico is by far, the most
consumer friendly of the two selected
insurance agencies. It's policies apply for the
wider variation of the mass populus making it
the more favorable option.
Source:https://www.allstateatwork.com/IndividualProdu
ctsSummary.aspx
Source:https://www.allstateatwork.com/GrpProductsSu
mmary.aspx
Source:www.gieco.com/information/aboutinsurance/aut
o/insights/coverage-not-known/