NU Online News Service, Dec. 12, 6:17 p.m. – MetLife Inc., New York, today released the results of a survey report that suggests that employees want to buy a wider array of insurance products, investment products and other voluntary benefits at the workplace.
Fifty-nine percent of the employees surveyed now buy voluntary benefits — defined as products for which the employee pays all of the cost — at work, and 61% of the employees say they wish their employers offered more types of voluntary benefits.
These are some of the findings of two surveys conducted in the third quarter. One was an employer survey conducted by Innovative Concepts Inc., McLean, Va., and the other was an employee survey conducted by RoperASW, New York.
Employees between the ages of 21 and 30 are most likely to buy workplace products, followed by employees ages 31 to 40, according to the authors of the survey report.
The younger employees are also more likely to buy products such as annuities (56% vs. 43% overall), college savings plans (19% vs. 14% overall) and wills (13% vs. 7% overall). They also prefer enrolling for their benefits on the Web (57% vs. 45% overall) and obtaining service for their benefits online (43% vs. 34% overall).