We all know that voluntary is quickly becoming the key driver inbenefits sales. We've discussed the desire of employers to reduceand control benefit costs, the trend toward greater employeechoice, the larger product variety, the impact of Obamacare and arange of other issues driving increased voluntary sales. And unliketraditional employer-paid benefits, half of all voluntary sales arenew coverages rather than takeovers.
Sales grew in the great recession years of 2008 and 2009. Giventhat, is something else contributing to this track record?
First, skeptics have pointed out that more than 70 percent ofemployers now offer at least one voluntary benefit and thesaturation point must be near. But looking at employer data, aninteresting phenomenon appears.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
