It's important that we recognize that sometimes getting ahead of the market might have us living in "future possibility," rather than "present reality." (Photo: Shutterstock)

The voluntary benefits market has, at times, seen certain trends that overshadow market realities. It was just a few years ago that there was still an expectation of growth in private exchanges. For a time, it was frequently forecast that such platforms would be the most common destination for benefit enrollment. While this concept may see more adoption in the future, the original forecast for growth has not yet come about. It's important that we recognize that sometimes getting ahead of the market might have us living in "future possibility," rather than "present reality."

New product categories are a good example of this kind of expected trend. While new product entrants like student loan reimbursement and fertility treatment benefits are getting some press around the voluntary market, traditional products are still most in demand. The 2019 BenefitsPRO/Eastbridge Voluntary Survey found that the top go-to products for brokers are accident, critical illness and hospital indemnity products.

Related: How technology is transforming the voluntary benefits industry