The ubiquitous “one-size-fits-all” tag in clothing is startingto give way to the more realistic “one-size-fits-most.” A similartrend is gaining momentum in the benefits industry, wherevoluntary products are addressing specific employeeneeds.
“The recent voluntary products, such as accident, cancer,critical illness and hospital confinement, emerged to help fillgaps not covered by major medical insurance,” says Rich Williams,senior vice president, growth markets, for Colonial Life inColumbia, South Carolina. “With health care costs increasing, manyemployers are moving to plans with higher deductibles and co-pays,leaving employees with greater financial exposure.”
Kathy O'Brien, vice president, voluntary benefits, for UnumNational Client Group in Chattanooga, Tennessee, has been trackingthe same trends.
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