Voluntary Benefits benefit the employers and the employees. Everyone saves money and everyone reaps the benefits. As the U.S. health coverage environment evolves, voluntary benefits can offer added financial security to employees, with no direct costs incurred by employers. There are excellent options out there, especially for the employers struggling with high insurance costs.
Through comprehensive voluntary benefit products and services, employees are gaining access to enhanced coverage’s that otherwise might not be available to them.
Voluntary disability insurance provides benefits over and above basic health insurance, offering eligible employees income protection insurance in the form of benefits that partially replace income lost as a result of a disabling non-occupational accident or illness. When such an event takes away the ability to bring home a paycheck, voluntary disability insurance coverage can help fill the gap as payment may be used for purpose including bills such a rent, mortgages, educational expenses, food and car payments.
Voluntary life insurance plans allow employers to provide, at no cost to them, life insurance to eligible employees who are responsible for paying 100% of the premium. Voluntary life insurance typically has a minimum guarantee issue amount, for which the employee does not have to answer any medical questions to buy coverage up to the guarantee issue amount. A limit is usually placed on the maximum.
Some voluntary life insurance plans offer Accidental Death & Dismemberment (AD&D) coverage, spousal and child coverage and accelerated benefits to assist a terminally ill employee with financial and personal needs.
Did you know that Americans who lack in dental insurance are 67% more likely to develop heart disease and 29% more likely to develop diabetes? Did you know that routine dental check-ups can detect the signs and symptoms of serious medical conditions such as cancer, diabetes, heart disease, kidney failure, the onset of a stroke or complications with pregnancy? As brokers it is important to help clients under- stand how oral health relates to overall health. Conditions in the mouth can alert dentists to major health problems at the earliest of stages. Companies that don’t offer, or are considering eliminating, dental benefits need to know about the option to offer a voluntary individual plan.
Voluntary plans often offer broad dental networks and lower out-of-pocket costs (a savings of 25 percent or more) compared to typical individual plans. Voluntary Dental Insurance allows employers to continue offering a plan, without assuming any financial liability. When a company is forced to eliminate dental coverage, it still can offer an individual voluntary plan to its employees. This solution plan allows organizations to provide a solution to their employees without any administrative or financial responsibility for them.
Your Voluntary Benefit plans are offered through the following carriers: