Voluntary

The Employee Benefits Group division of Sun Life Financial Inc. recently launched a campaign called “YOU” to educate and engage employees about their voluntary benefit choices during the latest open-enrollment season.

Critical-illness insurance is flying under the radar relative to other voluntary benefits, but a new MetLife white paper seeks to raise the product’s altitude among plan sponsors by showing how it adds financial protection and outlining steps to obtain the right amount of coverage.

One of the nation’s leading group legal plan providers recently acquired a lesser-known player, while a rival firm considered this avenue as one of several strategic moves to enhance shareholder value – proving the adage about strength in numbers may be particularly compelling in this business climate.

Two recent indicators of small-business activity have found that the nation’s economic engine is chugging along with a more optimistic outlook than previously believed – developments that could expand the number of voluntary benefit plan participants.

Humana Inc. recently expanded its digital footprint in the worksite market by launching an interactive, Web-based resource that shows how critical illness, disability and accident coverage offer financial protection in the event of an injury or illness.

Various months are designated throughout the year to educating consumers about the need for a particular insurance product line or service to ease financial burdens.

Dave Cirulis recently was named head of voluntary marketplace strategy for distribution at Lincoln Financial Group, which has spruced up its product portfolio as well as enrollment, service and technology capabilities. He reports directly to Robert Risk, the insurer’s vice president, group protection sales.

In response to a new American Payroll Association survey showing 43% of employees valuing health benefits more important than higher wages, Dan Maddux, the group’s executive director has suggested that employees consider pretax voluntary payroll deductions and flexible spending accounts to ease the sting of rising health care costs and uncertainty about health care reform.

Podcast: Strategic alliances can serve as an inexpensive foothold into the voluntary benefits marketplace for vendors that seek to broaden ...

Long-term care (LTC) insurance is back in the headlines, with several leading insurance carriers seeking rate increases to help offset investment shortfalls in an ultra-low interest rate environment and greater-than-expected plan usage.