Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The downturn in the economy has created increased demand for group legal plans from brokers and consultants, their employer clients and employees. Brokers are recommending group legal plans to employers who are trying to do more with less benefit dollars, and employers are implementing them as a way to help employees manage their financial well-being while remaining productive on the job. Employees are increasingly using their plans to address creditor, debt and real estate matters caused by difficult economic times.

Brokers Embrace Group Legal Plans This year, retention and controlling costs were again the top two benefits objectives for benefits professionals according to the 7th Annual MetLife Study of Employee Benefits Trends. As such, brokers are increasingly recommending group legal plans to their Fortune 500 clients as a tool to help them attract and retain talent at little or no cost to the employer. In the past five years, the number of Fortune 500 companies offering a group legal plan increased 40 percent. Currently, nearly 150 Fortune 500 companies offer a group legal plan. “Employers trying to maximize limited budgets realize that traditional benefits are no longer enough, so we recommend group legal plans and other voluntary benefits as a viable option for them in today’s economy,” said Dave White of D. M. White Corp. in Phoenix. “By offering a group legal plan, they not only enhance the competitiveness of their benefits package, they provide a valuable resource for employees, many of whom need legal assistance with financial matters now more than ever.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.