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3/1/12 - FNA Announces Partnership to Distribute Assura Group’s IncomeAssure Supplemental Unemployment Insurance Coverage to be Available Through  FNA’s New York and New Jersey Network

(New Hyde Park, LI.... March 1, 2012)  First National Administrators (FNA) has announced an agreement with Assura Group of NY, Ltd, for the marketing and distribution of one of the newest and most innovative products in the financial marketplace, IncomeAssure.  IncomeAssure enables policyholders to insure against loss of income if their job is lost. The policy provides substantial income in addition to regular unemployment insurance.

FNA, one of the largest general agencies in the northeast with more than 5,000 brokers in New York and New Jersey, and Assura Group, the New York City-based provider of IncomeAssure, have partnered together to give FNA brokers and their clients, access to this new and most timely product.  IncomeAssure is unique in the marketplace in that it provides executives the ability to purchase private unemployment insurance to hedge the risk of loss of a substantial income source should the policy holder be laid off or released.

“We believe that the IncomeAssure product is one of the brightest products in the marketplace today”, says Larry Lynch, president of FNA, “That it is serviced through the renowned Sterling & Sterling brokerage will help our 5,000 brokers reach the marketplace effectively and provide this most valuable product to their clients across New York and New Jersey. We look forward to this arrangement.”
“We are tremendously excited to be rolling out through FNA as their brokers are exactly the kind of professionals we can trust with our product,” stated Leslie Nylund, CEO of Assura Group. She continued, “One of the reasons we elected to work with FNA is that they truly understand the value that IncomeAssure brings to the client.  The FNA team understood that IncomeAssure offers not only financial protection, but also enables policyholders to have real peace of mind and less stress even while they are employed. And in the unfortunate event of a lay off, policyholders have the financial resources to live normally while looking for the right job.” 
Policy details:
IncomeAssure payments supplement state unemployment benefit payments that are received due to involuntary unemployment, so that the combined amount received from both state benefits and IncomeAssure is 50% of former pay. Benefits begin two weeks after state benefits start and continue for a maximum of 24 weeks.

What it costs:
Plans are tailored to individual situations, with a quick website quote giving the exact cost. To give an example, a policy for a person earning $90,000 a year working in the Financial Services industry in New York, would cost $21 a month. And since these premiums may well be tax deductible, the real cost could be far less.  Individuals should check with their accountants or other tax advisors as IncomeAssure premiums may be tax deductible.

How it works:
An IncomeAssure policy lasts for one year, and is usually renewable. If the policyholder becomes unemployed, IncomeAssure verifies the claim and then sends a check (or direct deposit) so that the policyholder receives a total of 50% of their former income for every week that he or she cannot find work and is receiving government benefits.  For full details, see IncomeAssure.com.

About First National Administrators (FNA)
First National Administrators (FNA) is comprised of a group of affiliated companies dedicated to providing brokers with one-stop shopping for a range of insurance needs including health, dental, vision, long-term care, disability insurance, a newly expanding life unit and more. First National Administrators also acts as a billing administrator processing enrollments, terminations and all aspects of administrative responsibilities for broker's clients. The Company has a number of subsidiaries, including Greater Metro Agency, a health insurance brokerage, Independent & Retail Business Associates (IRBA), a business association for small business owners, and Prestige Employee Administrators, Inc., a professional employer organization (PEO) to name a few.  The Company has offices in New Hyde Park, Long Island, Parsippany New Jersey, Las Vegas and Michigan.

About IncomeAssure and Assura Group of NY, Ltd.
Assura Group was founded in 2006 to address a critical unmet need in the market – private unemployment insurance.  Assura Group's unemployment insurance product, IncomeAssure, is currently available in 44 states and the District of Columbia, with remaining states pending approval. IncomeAssure is underwritten by Great American Insurance Company, a member of Great American Insurance Group and a subsidiary of American Financial Group, Inc. (AFG). Great American Insurance Company has maintained an “A” (Excellent) rating or higher from A.M. Best Company for over 100 years (rating affirmed as of February 14, 2011).
To learn more about IncomeAssure, visit IncomeAssure.com.