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Beyond popular voluntary choices of dental and vision insurance, pre-paid legal services now available as well to small business market as part of MetLife’s Simply Smart Bundles.
But Willis Towers Watson survey shows their appetite has declined for forfeiting pay in lieu of lower, more predictable health benefit costs.
Voluntary life insurance sales grew 8% and supplemental health insurance sales grew 4% to boost overall group employee-funded benefit sales by 6% in 2015, according to LIMRA’s recently released U.S. Worksite Sales survey.
A closer look at data from the 2015 Employee Benefit Research Institute/Greenwald & Associates Health and Voluntary Workplace Benefits Survey (WBS) reveals that most employees do indeed take advantage of voluntary benefits offered at the workplace.
Health benefits for employees are expensive, but this is over the top. The City of Industry, Calif., pays more than double the state average for health care benefits for many of its 33 employees.
How do consumers know what kinds of insurance to consider and what benefit levels to select? This open enrollment season, Transamerica Employee Benefits says consumers should ask themselves these 10 questions to help make the choices easier.
The latest results from LIMRA’s U.S. Worksite Sales survey shows voluntary benefits sales increased 5% in 2014 compared to 2013. Leading the way, vision insurance sales increased 24% last year followed by critical illness at 19%, and accident insurance at 12%.
New agents to the group insurance market may wonder where to focus their efforts. While some experienced individuals advise focusing on companies of 10 to 19 employees, others might shoot for higher or lower companies.
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