Employees in their 40s are more likely to buy voluntary benefits than are employees in any other age group.
Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM), has published data supporting that conclusion in an analysis of its own voluntary insurance sales.
About 24% of the buyers are ages 40 to 49 at purchase, and 23% are ages 30 to 39.
The age at purchase is 20 to 29 for 20% of the buyers and 50 to 59 for 17% of the buyers.
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Because figures for insureds 20 and under include child policies purchased by working parents, 12% of the insureds are under age 20 at the time of purchase; only 4% are 60 or older.