NU Online News Service, Oct. 1, 2003, 2:07 p.m. EDT – Participation in supplemental group life insurance programs is low even at employers with a serious interest in benefits, according to results of an informal, Web-based survey released by MetLife Inc., New York.
MetLife is conducting online “benchmarking polls” of employers that visit its benefits benchmarking Web site.
So far, 1,800 employers have participated in the poll. Only 15% of the employers have reported supplemental group life participation rates over 50%, MetLife says.
MetLife recommends that employers boost enrollment by giving employees a chance to change coverage amounts after they get married, have children or go through other major “life events.” But only 44% of the employers that participated in the benchmarking poll said they give employees the option to change coverage amounts after major life events.