This Just In…
Can voluntary benefits fill the life insurance gap?
LIMRA, an insurance research organization, found that only 41 percent of U.S. adults had life insurance protection in 2011. However, only 39 percent of U.S. households could remember “having an opportunity” to buy life insurance in the last two years.
Interestingly, LIMRA also found that only 36 percent of individuals who shopped for life insurance only online bought coverage. In contrast, 74 percent of those meeting face-to-face with a salesperson bought insurance, while 67 percent of individuals dealing directly with an insurer or salesperson bought.
Shopping online gives consumers many options; however, consumer research has shown that when given too many options, many consumers will just opt not to buy. A voluntary benefits plan can take much of the confusion and complexity out of the buying process for your employees. Our agency will research the best plans for your group and your employees can deal directly with an agent. The insurer handles enrollment and administration of the plan; the employer has no administrative responsibilities other than offering payroll deduction payment.
For more information on voluntary life benefits, please call us.
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