Reasons Employers Should Offer Voluntary Life Insurance to Employees

News Image 09-23-2016

For many people, their only life insurance is from a group life plan provided by their employer. For some - especially those with a spouse or children, educational expenses, a mortgage or other debt - this offering may not be sufficient to ensure financial wellness.

Here are a few reasons your employers should start offering voluntary life insurance benefits to their employees.

1. Employers can offer employees the financial security of voluntary life insurance without increasing their benefits budget.
Because voluntary life insurance is opt-in and chosen by individual employees as appropriate for their own situations, employers can offer supplemental life insurance as an option at no additional cost.

2. Financial security is tied to employees' productivity.
Studies show that when employees don't have to spend time and energy worrying about providing for their families, they are more productive. Appropriate life insurance is a key factor in overall financial health, and provides employees with the peace of mind that lets them focus their energy elsewhere.

3. Comprehensive benefits packages contribute to higher employee satisfaction and retention.
Studies also show that benefits offerings are important to employees' decisions about what companies to work for and how long to stay. Offering a benefits package that includes voluntary life insurance coverage allows employees to customize benefits to their own needs.

BUA can help you design a solution for groups of two to 2,000 or more. Our portfolio of products is designed to provide the flexibility and benefits your employers will be proud to offer. Call us today. We have the specific product that meets your clients’ needs.

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Jim LaFleur
Vice President
Phone: 330.576.1131
Toll Free: 1.800.792.6795
JimL@buaweb.com