Benefit Management Group, Inc.

 "Your Worksite Benefits Specialists"

 

 

 

Home
Mission
Services We Offer
Voluntary
Section 125
Enrollment/Support
Cobra and Hipaa
Related Links
Insurance Carrier Info
Contact Info

Voluntary Benefits

Employee benefits have become an important part of compensation to all of us today. Employers spend as much as 42% of compensation on benefits. While almost everyone agrees on certain programs, no one plan can be all things to all people. More and more employers are offering voluntary benefits so employees can supplement their core benefits to meet their needs.

Life insurance and Disability insurance, for example, are benefits that are usually provided via group term in amounts that are rarely tailored to each employee and usually expire at retirement. Many employees have no other coverage and desire flexible plans for themselves and their dependents that they cannot outlive. Offering competitive coverage through the worksite helps employees plan for their future and gain greater peace of mind.

Workers seeking to purchase insurance have traditionally experienced barriers including:

bullet

High cost products

bullet

High minimum death benefit or premium requirements

bullet

Sales pressure from individual agents

bullet

Dual income families who do not have or do not want to take the time to see an individual agent at their home

bullet

Limited access to quality programs

Voluntary products, therefore, are a "win/win" program for employers and employees.

Employers receive:

bullet

A value-added benefit package with no direct cost

bullet

Increased goodwill and morale

bullet

No adverse group conversion fees

bullet

Non-qualified Voluntary products require no government mandated paperwork

Employees find voluntary benefit's especially advantageous because the products are:

bullet

Portable

bullet

Flexible - each consumer designs a program right for his/her situation

bullet

Group discounted

bullet

Offered for stand-alone employee, spouse, child and grandchild coverage

bullet

Available through streamlined and prompt underwriting - most applicants qualify on the basis of one or two simple questions

bullet

Paid through convenient payroll deductions

 

Approximately 89% of employees surveyed expressed interest in at least one employer sponsored voluntary insurance product*.

*LIMRA Worksite Study #2198, April, 1995

 

 

 

Send email to bmginc@verizon.net with questions or comments about this web site.
Copyright 2001 Benefit Management Group, Inc.
Last modified: 06/04/2007