Advisors take note: If you actively sell voluntary employee benefits, you might do well to focus chiefly, if not exclusively, on the largest U.S. companies. For voluntary products, sales are increasingly navigating to this segment of the employer market.
For evidence of this, look no further than a new report from Eastbridge Consulting Group which shows that companies with more than 2,500 employees accounted last year for 40 percent of voluntary sales. That's up from 36 percent in 2013.
In comparison, sales to companies with 100-499 employees, the second largest market segment, topped out at 19 percent, a two percent rise from 2013. The next largest segment, businesses fielding 26 to 99 employees, held steady in market share (12 percent) between 2013 and 2014. (See charts below.)
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 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.
