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Most employees - both younger and older -believe benefits like medical insurance, defined contribution plans and dental insurance, are important; yet four out of 10 employees lack any knowledge of how much their medical insurance costs. Of the 60 percent of employees who think they know the cost of their medical insurance, just 15 percent were able to provide a reasonable estimate.

“One common employer misconception is that older employees value benefits more than younger employees,” said Anita Potter, assistance vice president, LIMRA group product research. “In fact when it comes to benefits, younger employees value benefits nearly as much as older employees. The different values that employees place on benefits appear to be more a function of life experience rather than life stage, income or education levels.”

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