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LIMRA: Employers Thinking About Voluntary Products

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Many U.S. employers say they may add voluntary benefits options within the next two years, according to LIMRA.

LIMRA, Windsor, Conn., has published that finding in a summary of results from a survey of an unspecified number of U.S. employers with 10 or more employees.

Life insurance and cancer insurance continue to be popular, and about 20% of the employers polled said they offer voluntary long-term and short-term disability insurance.

Researchers found that 30% of the employers are considering offering new voluntary, employee-paid benefits to replace existing employer-paid benefits.

Half of the employers with 1,000 or more employees are showing an interest in replacing employer-paid programs with employee-paid benefits, and the level of interest is higher at smaller employers, LIMRA says.

Some employers are thinking about adding a voluntary major medical or prescription benefit, and about 75% of those employers would be using the voluntary benefits to replace existing employer-paid benefits, LIMRA says.

- Warren S. Hersch

Other voluntary benefits coverage from National Underwriter Life & Health: