There are two fundamentally opposing points of view when it comes to the best design of voluntary products: CYTT and KISS.
In the product design area there's a tendency to play the "Can you top this?" game.
In some ways I've been very good at playing this game, having been part of some incredibly complex product designs before joining Mutual of Omaha. For example, I was part of a team that developed a product described technically as "Interest Sensitive Flexible Premium Adjustable Life with Cost of Living Increases." It was hard for competitors to top, but almost impossible to explain and nearly impossible to administer (which is why it's not being sold today).
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