When you think about it, the very foundation of the insurance industry is based on person-to-person connection. The secret is out: Planning ahead is the key for effective benefits communication before, during and after open enrollment season.

While it may not actually be a secret, many employers still underestimate the power of having a plan in place to market benefits to employees.

There are more health insurance options than ever before – and it may be confusing for some employers to keep up with. Brokers should take time to provide clients with the information they need to effectively market product offerings to employees. By doing so, brokers will help employers engage employees in the benefits selection process and ensure employees are making the best decisions for their situation.

One great way for employers to allow employees to customize their benefits packages to meet their families’ specific needs is by making voluntary insurance products available.

That said – here are six key voluntary insurance products to emphasize as you speak with employers and their employees during open enrollment.

1. Critical illness insurance
While many people choose to be optimistic, the truth is that no one is immune to life-altering illnesses.

According to the Centers for Disease Control and Prevention (CDC), more than 795,000 people in the U.S. have a stroke every year, and approximately 735,000 people in the U.S. have a heart attack each year.

Reviewing the benefits of critical illness insurance is one way you can help clients with their marketing strategy. Without financial protection, millions of families have drained their savings, maxed out their credit cards and even refinanced their homes due to medical bills.

Stress that critical illness policies allow employees to stay ahead of medical and out-of-pocket expenses that occur from certain medical issues, such heart attack or stroke. Employers that can easily explain the importance of specific benefits will be able to provide better guidance to employees.

2. Life insurance
Life insurance needs are heavily dependent on the individual’s stage in life – in terms of career, family and personal values. Therefore, it is vital to talk through the different policy options with workers based on their specific situations.

Help employers market life insurance to employees by suggesting that no one wants their loved ones to be left with financial stress after the loss of a family member. Life insurance is a way to soften the financial burden left to loved ones.

Also, be sure to let your clients know that since premiums are deducted from workers’ paychecks, it’s easy for them to forget which options they have. Remind employers and employees that it’s beneficial to review and access life insurance policies frequently to make sure they take into account any life-changing events and always have adequate protection.

3. Short-term disability insurance
The importance of short-term disability insurance cannot be overstated. According to a recent financial study, there is a 3-in-1 chance of an individual suffering a disabling illness or injury that would keep them out of work for three months or more.

Plus, 30 percent of full-time employees indicated that they are not confident about paying their bills if they or another family member was out of work that length of time.

Sharing these eye-opening statistics with clients is a good way to provide them with resources and information to best market disability insurance to their workforce.

4. Accident insurance
A LIMRA study found 6-in-10 Gen Xers and Gen Y-ers said an income loss due to illness or injury would have a significant financial impact on their households. Individual accident insurance can help employees — regardless of their generation—stay ahead of medical bills.

If an employee has an accident, costs that need to be factored into the equation could include: emergency treatment, hospital stays and medical exams, and transportation and lodging needs. That’s on top of an employee’s regular responsibilities such as the mortgage or rent, car payments, child care expenses and utility bills. None of these responsibilities come to a halt because of an accident.

The selling point is to let your clients know that voluntary accident insurance helps employees cope with all costs associated with serious and not-so-serious accidents. It’s important for brokers to explain that benefits are paid directly to employees, unless otherwise assigned, so they can use them to help with normal bills or out-of-pocket fees that aren’t covered by major medical insurance.

(AP Photo/Gerry Broome)

5. Cancer Insurance
According to the American Cancer Society, approximately 1.6 million new cancer cases are expected to be diagnosed in the U.S. this year alone.

In fact, the lifetime risk of developing cancer is slightly less than a 1in-2 risk for men and a little more than 1 in 3 for women in the U.S. Of course, nobody wants to think about their chances of needing a cancer policy; however, given the odds, this is a product many employees should consider.

It’s important for brokers to ensure their clients are stressing the importance of knowing medical family history when choosing benefits. A cancer policy can help protect employees from the overwhelming costs that may come along with being diagnosed with this disease.

6. Hospital indemnity insurance
Hospital inpatient care accounts for nearly a third of U.S health care costs. The average length of a hospital stay is 4.5 days at a total cost of $10,400. With costs that high, even if an employee has good major medical insurance, that coverage probably won’t be enough to pay all expenses associated with a hospital stay.

As health care costs continue to rise in the form of deductibles, copayments and out-of-pocket maximums, employees can use the added protection in the event they have to stay overnight at a hospital. Hospital insurance pays cash for covered hospital stays, with optional benefits for diagnostic procedures, surgery, ambulance transportation and more. As always, brokers should focus on the importance of ongoing evaluations of life needs.

Planning ahead
Emphasizing these products to your clients during open enrollment is about you showing them several ways they can help their employees build financial security. Many are left unarmed and unprepared for medical events that can happen to anyone at any moment. Brokers should emphasize that employers can offer numerous policies at little to no cost to their bottom lines, so they’re an invaluable addition to any employee benefits program.

This article is for informational purposes only and is not intended to be a solicitation.

Instant Insights /

6 voluntary benefits brokers should emphasize during enrollment

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