Page 4 - Utility_BillPayer_Brochure.indd

Help Your Customers be Prepared for
Unplanned Events
Why the Utility Bill Pay Plan? To help your customers be prepared.
In 2018, a total of 2,839,205 resident deaths were registered in the United States – 25,702 more deaths than in 2017.3
A disability, due to illness or injury, can strike at any time.
Economic changes can force a company to restructure or downsize any time.
A 2015 Utility Consumer National survey of 1,000 U.S. households was conducted by Survey Monkey and sponsored by Consumer General Corporation Insurance Services to measure consumer demand for the Utility Bill Pay Plan for
all types of utility services. The findings showed that of the eligible households that completed the survey and were customers of the three basic services of electricity, natural gas and water services, over 86% stated they were “Very Likely” or “Somewhat Likely” to purchase the plan if it were offered to them by their utility provider.4
2015 Survey Results
Coverage, from a trusted market leader.
The plan, provided through National Union, a member company of AIG, a leading global insurance provider with 100 years of experience. The AIG companies have a proven track record of providing reliable coverage, backed by service customers can count on.
1 Source: Bankrate’s Financial Security Index Survey – January 2019. https://www.bankrate.com/banking/savings/financial-security-june-2019/
2 Source: Bankrate. Andrian D. Garcia. January 16, 2019. Survey: Most Americans wouldn’t cover a $1K emergency with savings
3 Source: Xu JQ, Murphy SL, Kochanek KD, Arias E. “Mortality in the United States, 2018. NCHS Data Brief, no 355”. Hyattsville, MD: National Center for Health Statistics. 2020. https://www.cdc. gov/nchs/data/databriefs/db355-h.pdf
4 In the “2015 Utility Consumer National Survey of 1,000 U.S. Households” conducted by Consumer General Corporation Insurance Services (“CGC”) and Survey Monkey (+/-3% error rate), respondents were eligible to participate in the Survey with the following qualification criteria: (i) full time employed; (ii) personally responsible for paying their household’s utility bill; and (iii) the monthly service bill was over $50. Of the 448 respondents that chose to complete the Survey, that segment was presented with the value proposition of the Utility Service Protection Plan including the (“test”) price stated at eight (8%) percent of their monthly utility bill (as a single insured). For the three basic services of electricity, natural gas and water an average of 86.8% of the respondents that completed the Survey stated they were “Very Likely” or “Somewhat Likely” to purchase the Utility Service Protection Plan if it were offered to them by their utility service provider.
Insurance described in this brochure is a brief summary of the coverage(s) available under policy series S30865NUFIC-AL, S30865NUFIC-KY, S30865NUFIC-MD, S30865NUFIC-OK, S30865NUFIC-UT, S30865NUFIC-VA and S30865NUFIC-WI and does not provide the full details of the coverage available and is for informational purposes only. This Plan is offered by Consumer General Corporation Insurance Services, an insurance producer with DE Producer license number 300002395.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. (AIG). For additional information, please visit our website at www.aig.com. Policies are underwritten by member companies of AIG, including National Union Fire Insurance Company of Pittsburgh, Pa., (National Union).
Copyright © 2020 American International Group, Inc. All rights reserved. For use in Alabama, Kentucky, Maryland, Oklahoma, Tennessee, Utah, Virginia and Wisconsin only. DM-48487-19 (Rev. 05.2020)
Type of Utility Service
Very Likely
Somewhat Likely
Total
Completed Survey
Percentage Completed
Electricity
219
146
365
418
87%
Natural Gas
121
93
214
237
90%
Water
134
120
254
307
83%
TOTAL
474
359
833
962
86.60%