Voluntary benefits are part of a competitive benefits package

Employees prefer a balanced mix of benefits. When asked, most employees said they like the ability to better customize what their employer offers to their individual needs. Specifically, they appreciate the convenience, lower-cost, pre-selection, simplified underwriting, human resources assistance and payroll deduction offered by voluntary products. They also feel employers who supplement benefits packages with voluntary benefits are providing a valued service to employees.

Voluntary benefits remain a low-cost alternative worth offering employees.
More and more, companies are turning to voluntary benefits as a cost-effective employee service that boosts morale without deflating the bottom line. Looking to capitalize on work/life balance trends? You have plenty of benefits options to choose from. Today, voluntary benefits range from life insurance to pet insurance to home service warranties, plus more.

According to recent survey, 52 percent of companies offer voluntary benefits to employees. Of that group, 37 percent say employees' usage of the company's voluntary benefits has increased in the last two years.

As employees pick up more of the cost of benefits, employers are looking for new offerings to offset the takeaways. One way you can put things back into balance for your employees is by adding or enhancing optional group life insurance programs. Employees want and need financial security for their families — group life insurance is one of the easiest and most affordable ways to accomplish that.

What's in it for employers?
The very nature of voluntary benefits speaks to the customization you're looking for and employees are demanding.

• Save money: employees typically bear all or most of the cost of voluntary benefits.
• Entice new workers to join the company.
• Retain talent: 84 percent of employers surveyed believe that offering voluntary benefits increases loyalty and retention.
• Strengthen your partnership with your employees and increase loyalty.
• Help employees protect and plan for their future financial security.

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