Voluntary benefits

Getting Gen Y to take action on disability coverage by demonstrating need.

Discount programs offer employees exclusive savings.

Workplace Benefits Mania conference focuses on voluntary benefits in Las Vegas

How brokers advisers can expand the effectiveness of EAP program by emphasizing brain strength.

Baby boomers not taking advantage of available eye care benefits, leading to lost productivity.

Employers offering mini-med plans need to find alternatives.

Online life insurance calculators fare poorly in consumer report.

With more than 8.1 million Americans protected by long-term care insurance coverage, there is no doubt it’s a product that appeals to baby boomers who don’t want to end up in a nursing home or be dependent on others. However, it’s not a fit for everyone. For example, most young married men would be better off focusing on building a nest egg and buying life insurance protection. …

Consumer awareness of bank-sold life insurance has improved, and much of this improvement can be credited to generations X and Y, according to a report from LIMRA. The periodic report, "Bank on It! Opportunities With Today's Bank Customer,” found the majority of generations X and Y would consider buying life insurance policy from their bank—significantly higher than members of the older baby boomer and silent generations, where only about a third of these consumers say they would consider it.

Now that heath reform remains intact, it's official: compliance waivers on expense-incurred medical plans are set to expire on Dec. 31, 2013 - which will result in millions of uninsured hourly and part-time employees looking for new avenues of health care coverage.

Intending to combat the cost of absenteeism, workplace disruptions or a significant change in productivity due to an employee with child or elder care worries, employers are starting to offer Care.com's Workplace Solutions as an employee benefit. Distributable through brokers, the online platform and consulting service helps families find every day, back-up and occasional care across the U.S.

The 1988 Paralympic Games in South Korea changed my outlook on disability - and ultimately helped shift the focus of my group benefits career to disability income insurance and instilled a strong belief in an advocacy-based approach.

Employees know very little about disability coverage. But when they learn about it, they often want the coverage and are willing to pay for it, recent surveys find. The Consumer Federation of America and Unum national survey of 1,200 employees finds that only 13% know "a lot" about disability insurance, and less than half (47%) know what its benefits are.

Prudential Group will discontinue sales of new group long-term care insurance policies effective Aug. 1, 2012, except in Indiana, Iowa, Kansas, Louisiana and South Dakota, where it will continue for a period as required by state law. In March, the carrier announced that it would discontinue the sale of individual LTC products to focus solely on its group line.

Voluntary accidental death and dismemberment coverage received the highest rating (43%) from leading carriers selecting it as a ‘very profitable’ product line, according to The Frontline Report, Worksite/Voluntary Product Trends 2012.

Today, this one market is estimated to be a $40 billion industry in the United States, says EBA contributor Sam Fleet. He shares in today’s BeAdvised why approaching this market with a broader view can provide an opportunity for brokers to adapt their business models and thrive, especially as the new health care landscape takes shape.

Life combination products grew 56% in 2011, according to LIMRA's "2011 Individual Life Combination Products Annual Review." This was the third consecutive year of double-digit growth.

Ellen M. is a 47-year-old single mom whose 4-year-old son is diagnosed with pervasive development disorder not otherwise specified, a disorder on the autism spectrum.

When asked about their experience with selling workplace voluntary benefits, most brokers often give one of two replies:

Employees know very little about disability coverage. But when they learn about it, they often want it and are willing to pay for it. A Consumer Federation of America and Unum national survey finds that only 13% of surveyed workers know "a lot" about disability insurance, and less than half (47%) know what its benefits are, according to the survey of 1,200 employees. Yet, when informed about DI, a majority (90%) want the coverage, and 86% are willing to pay half of a $30 average monthly premium, and 56% are willing to pay the entire premium in order to gain income protection should they become disabled. According to a 2012 Social Security Fact Sheet, almost 1-in-4 of today's 20 year olds will become disabled before age 67.