There's been a lot of talk about voluntary benefits, and forgood reason. Brokers should be concerned about voluntary. Butthere’s also plenty of value if they approach the marketunderstanding the hurdles to overcome as well as theopportunities.

First, brokers should be aware the premium revenue dollarsinvolved in voluntary plans are much lower than medical planrevenues. At a quick glance, medical coverage is worth severalthousand dollars per employee, whereas voluntary plan premiums aretypically hundreds. Are these lower revenue dollars worthwhile?Yes, provided they result in good things for multipleaudiences.

For the employee, voluntary benefits provide financial securityfor workers and their families at a reasonable cost, leveraging theconvenience of access at the workplace and payroll deductionpremium processes. For the employer, their benefits offering isexpanded, and valuable protection is available. For the broker,their role is expanded in a new direction and their organizationhas an additional source of commission revenue.

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