Rothschild-Landry Holding, Inc. Rolls Out Patent-pending Family Leave Insurance(TM)
New insurance product will provide paid family medical leave for workers
SAINT FRANCISVILLE, LA, March 4, 2005 -- The federal Family and Medical Leave Act (FMLA) of 1993 provides for up to twelve weeks of leave when, for instance, an eligible employee must care for a seriously ill family member. But that leave is unpaid - and many American workers cannot afford to take even a day of leave without pay. But thanks to Family Leave Insurance(TM), a new product based on a patent-pending business method from Rothschild-Landry Holding, Inc. (www.rothschild-landry.com), workers who take FMLA leave to care for the health needs of loved ones now have the chance to receive an income during their time off.
“Today there are insurance policies available for health, life, disability, and maternity; but no insurance is available to protect against financial hardship if persons must take significant time from work to care for the health needs of loved ones,” stated Jesse Rothschild, Rothschild-Landry president and CEO. “Each year as many as 17 million U.S. workers have to choose between earning an income and caring for a seriously ill family member. We developed Family Leave Insurance because no one should have to make that choice.”
Though advocacy groups have long encouraged the commercial insurance industry to offer income replacement insurance for those who must take leave to care for family members, Rothschild-Landry is the first to develop such a product. And Family Leave Insurance coverage does not need to be limited to employees eligible for FMLA.
“Federal FMLA guidelines apply only to companies with fifty or more employees, and worker eligibility requirements are somewhat restrictive,” Rothschild explained. “And most states do not have their own more lenient family and medical leave laws. So there are millions more workers out there who, because of the size of their employers or their length of time on the job, are not eligible for FMLA. For that reason, Family Leave Insurance eligibility requirements may be structured such that even workers whose employers are not covered by the federal FMLA may still be eligible to receive paid family leave.”
Rothschild-Landry also took care to make Family Leave Insurance as accessible as possible. There can be a variety of premium options, making payments affordable for just about any worker or employer. What’s more, Family Leave Insurance benefits are structured to prevent financial hardship while minimizing the potential for abuse.
“Particularly as our population ages, paid family leave is going to be a bigger issue at the state and national levels,” said Rothschild. “Family Leave Insurance can be a way for employers to comply with state laws, and to offer workers peace of mind and a little extra financial security at a time when they need it most.”
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