Years ago, voluntary represented a (relatively) new approach tobenefits, and it had seemingly unlimited potential in terms of newaccount prospects. People wondered what would happen if thatpotential was realized and most employers eventually offeredvoluntary products. Would sales slow? Would pricing pressuresaccelerate? Would the market come to resemble the traditionalemployer-paid market?
That day has come. By the end of 2012, 77 percent of allemployers offered at least one voluntary product. Yet industrysales growth continues at a robust clip.
There are a variety of reasons for the continued strong growth.Participation in existing accounts has strong upward potential.Employees are adding additional voluntary coverages. But anotherfactor is emerging that suggests growth has a long way to go.
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