MassMutual Financial Group in Springfield, Mass., has announced a Web enrollment feature for its Strategic Edge group universal and group variable universal life insurance products.
The site is to enable participants to enroll, make beneficiary selections, choose to invest premiums when applicable, and complete forms with an electronic signature, the company said Wednesday. It will also give investment information and educational resources, including videos that explain product features and benefits.
The enrollment system makes data collection more accurate by prepopulating screens with participants' demographic information and by flagging participants' entries for inconsistencies or missing data. Plan sponsors also will be able to monitor real-time reports on how many participants have begun their enrollment, completed it, or are doing so.
