Benefit Management Group, Inc.
"Your Worksite Benefits Specialists"
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Voluntary BenefitsEmployee 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:
Voluntary products, therefore, are a "win/win" program for employers and employees. Employers receive:
Employees find voluntary benefit's especially advantageous because the products are:
Approximately 89% of employees surveyed expressed interest in at least one employer sponsored voluntary insurance product*. *LIMRA Worksite Study #2198, April, 1995
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