Marty Traynor is vice president of voluntary benefits at Mutual of Omaha.

If you’re like the typical benefits professional, you’ve just succeeded in adding nearly 40 percent of your year’s production. As you wrap up all that January 1 business, it’s already time to consider your plan to keep it. Profitability doesn’t come from acquiring business, but from retaining happy customers and the benefits of the revenue stream they create.

From a customer’s viewpoint, benefits that are purchased and not used don’t have much value, so it’s in their best interest to keep the benefits they purchase. One would think this is a simple win-win proposition, but stats tell us that all too many customers will purchase benefits that become effective this month, and then drop them, creating no value for anyone.

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