Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Inside Workers' Brains

Your article was successfully shared with the contacts you provided.

Employees seem to place a higher value on benefits than on cash.

Marketers at the Wellesley Hills, Mass-based U.S. benefits division of Sun Life Financial Inc., Toronto, have published that finding in a summary of results from a Web-based survey of 3,000 U.S. workers conducted by JHA, Portland, Maine. All of the participants were ages 25 or older, all helped make benefits decisions for their families, and all worked for employers with more than 25 employees.

JHA asked the survey participants to assume they had all of the medical insurance that they needed, and then to allocate a total of 100 rating points across 7 other benefits. The list of benefits suggested included 401(k)/retirement plans, dental insurance, vision insurance, long-term disability insurance, short-term disability insurance, long term care insurance, and an unspecified amount of cash.

About 33% assigned a value greater than 0 to cash, and only 5% assigned cash a value greater than 30. That made cash the least utilized category, according to Sun Life.

However, more than 70% of participants assigned a value greater than 0 to the other 6 benefits. Of all the supplemental benefits, dental insurance, 401(k)/retirement plans, vision insurance and group life insurance were rated as the most valuable, Sun Life says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.