Test Your Life Insurance Knowledge

How much do you know about life insurance? Take the following quiz to find out: 1. Life insurance is the most commonly offered employee benefit, after health insurance. True or false? True. According to the Bureau of Labor Statistics, 55 percent of all workers in private industry have access to life insurance benefits (2016 figures).…

What You Need to Know About Group Life Insurance

Employer-sponsored life insurance is the way most Americans receive coverage. There are important decisions to make when offering coverage to employees. More Americans now have life insurance coverage through their employer rather than with individual policies. According to the Life Insurance Marketing and Research Association (LIMRA), 108 million adults and children receive employment-based life insurance…

The Benefits of Offering Supplemental Life Insurance

Supplemental insurance allows employees to customize their coverage to meet their individual needs. Most employees now get their life insurance through a group plan provided by their employer. According to LIMRA, a research group funded by the life insurance industry, 108 million Americans have an employer-sponsored basic life insurance plan, while 102 million have a…

3 Tips to Expand Voluntary Benefits and Save Money

At a time when employers are trying to solve talent gaps while juggling tight budgets, the popularity of voluntary benefits continues to gain traction—with voluntary benefits’ sales increasing for the fifth straight year, according to LIMRA. Voluntary life insurance sales grew 8 percent and supplemental health insurance sales grew 4 percent in 2015, according to…

Consider Short-term Approach to Retirement Savings

For employers that offer a defined contribution plan, such as a 401(k), getting employees to participate may become a concern. Taking a short-term view could improve retirement savings. A recent study by the Life Insurance and Market Research Association (LIMRA) suggests that employers might have been approaching retirement education all wrong. Instead of getting employees…

More Effective Enrollments = More Satisfied Employees

LIMRA’s (Life Insurance and Market Research Association) 2015 U.S. Worksite Sales survey shows that voluntary benefits sales increased 5 percent between 2013 and 2014, marking four straight years of growth. Many experts agree that voluntary benefits will play an increasingly important role in American workplaces. “Voluntary benefits are on a growth trend, in part because…

Life Insurance: Employer Programs Can Eliminate Dangerous Gap

Recent research from LIMRA reveals that most Americans lack adequate life insurance. Employer programs can help fill that gap. According to LIMRA, with disposable income at an all-time low, American families have to make difficult decisions on what financial priorities take precedence. Unfortunately, life insurance is not at the top of the list. Consider the…