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Next Year’s Benefit Planning — Life Insurance?

Posted By Administration, Tuesday, September 10, 2019

As we push into the fall season independent agency owners, insurance companies and human resources departments are deep into deciding what benefits will be offered to employees in 2020.

A new online survey OneAmerica — done by The Harris Poll — found that a high percentage of American workers would like group life insurance as an employee benefit.

  59% of workers say they would purchase such insurance through their employer if offered as an option

  28% of the workers over 1,000 workers surveyed said the already have voluntary group life insurance

  47% that do not have voluntary group life insurance say it is because the employer does not offer it

The survey also paid attention to the employees who have such insurance through their employer:

53% say they have the life insurance for peace of mind

44% say they have it to protect their family from future financial hardship

39% say the picked it up to pay off debts and final expenses in the event of their death

23% say they have the insurance to leave an inheritance for their children and grandchildren

21% say the insurance will replace a spouse or partner’s income in the vent of their death

OneAmerica spokesman Dan Aiello said, “September is Life Insurance Awareness Month, and the information gathered by The Harris Poll provides further proof of the strong desire for employed Americans to have access to solutions to protect the financial future of their families.”

He also pointed out that the workplace is the best place for employees to be educated on the importance of life insurance


Source link: Insurance Business America

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