BRANCHVILLE, N.J.,
Sept. 18, 2019 /PRNewswire/ -- Selective Insurance Company of
America, the lead insurance company of Selective Insurance Group,
Inc. (NASDAQ: SIGI), is working with Gradifi, a leading student
loan employee benefit provider, to support employees who have
student loan debt. Through Selective's new Student Loan Repayment
Assistance Program, Selective will make monthly $100 payments, up to $6,000, toward student loan debt for eligible
employees who obtained an undergraduate degree within the last five
years. In addition, student loan refinancing opportunities are
available through Gradifi Refi to help employees take advantage of
dropping interest rates and alleviate the burden of student loan
debt.
"As an employer of choice in the insurance industry, we proudly
employ some of the brightest recent graduates in the workforce
today. But so many of them are facing undue stress due to loan
repayment obligations. Selective's new Student Loan Repayment
Assistance Program provides recent college graduates a bit of a
reprieve in paying down their debt as they focus on building their
careers," said Chuck Musilli,
Executive Vice President, Chief Human Resources Officer, Selective
Insurance. "Selective was founded more than 90 years ago on the
simple act of lending a friend a helping hand – assisting our
colleagues in their time of need is at the core of our
relationship-based culture and the basis for the service we deliver
our customers every day."
Aligned with Selective's commitment to address every
customer's unique needs with customized solutions, the company aims
to offer one-of-a-kind benefits to its employees such as the
Student Loan Repayment Assistance program in recognition of the
tireless work that employees put into delivering the Selective
brand promise, "Be Uniquely InsuredSM". When paired with
the company's Retirement Savings plan, and Employee Stock Purchase
Program, it is a game-changer – employees are able to tackle
student loan debt and save for their future and retirement
simultaneously. Selective is helping to pave the way toward
financial freedom for its workforce by matching employee retirement
plan contributions 100% on the first 3% and 50% on the next 3% for
a total of 4.5%. On top of the 4.5%, Selective offers a 4%
non-elective company contribution given to Selective employees
after a year of service. This means that Selective employees only
need to contribute 6% toward their 401(k) retirement plan and they
will see a combined 8.5% match and non-elective contribution from
Selective.
"As an early career professional, the weight of paying down my
student loans while trying to prepare for future retirement is
tremendous," said Selective employee Kinsey Knakkergaard, an Agency
Development Analyst in the company's corporate office. "Selective's
Student Loan Repayment Assistance Program speaks volumes about the
integrity of the company. I'm proud to be employed by an
organization that recognizes the value of my education, helps
alleviate the burden of repaying my loans, and demonstrates that
employment is a mutual investment for both parties."
"In my job as an Associate Talent Acquisition Specialist, I see
first-hand how much our current and new employees value our
financial programs, especially the 401(k) program because it goes
above and beyond compared to other companies out there," commented
Danielle DeBendetto, a Selective
employee who is taking advantage of Selective's Student Loan
Repayment Assistance Program. "The Student Loan Repayment
Assistance Program is a highly valued asset and a perfect example
of how Selective listens to employees and offers benefits that are
valuable to us."
Selective fosters a collaborative work environment that empowers
its employees to think and embrace "unique" with the goal of
creating something bigger together. With competitive benefits that
fit a variety of needs, opportunities to earn financial rewards,
and the ability to shape a unique and rewarding career, Selective
is breaking the mold within the insurance industry and it all
starts with its distinctive employees. To learn more, please visit
https://www.Selective.com/Careers or follow Selective on LinkedIn
(@SelectiveInsurance), Facebook (@Selective), or Twitter
(@Selective).
About Selective Insurance Group, Inc.
Selective
Insurance Group, Inc. is a holding company for 10 property and
casualty insurance companies rated "A" (Excellent) by A.M. Best.
Through independent agents, the insurance companies offer standard
and specialty insurance for commercial and personal risks and flood
insurance through the National Flood Insurance Program's Write Your
Own Program. Selective's unique position as both a leading
insurance group and an employer of choice is recognized in a wide
variety of awards and honors, including listing in the Fortune 1000
and being named one of "America's Best Mid-Size Employers" by
Forbes Magazine. For more information about Selective, visit
www.Selective.com.
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SOURCE Selective Insurance Group, Inc.