Industry News

The year ended well for workplace benefits sales, particularly life insurance, which recorded double-digit growth in the fourth quarter and the year, according to a LIMRA survey.

Patrick Leary of LIMRA says that, “Insurance benefits remain a high priority for employees. New annualized premium for workplace life insurance, disability insurance and supplemental health products rose in 2021."

Life Insurance

The pandemic has spurred many people to start end-of-life planning. Sixty-five percent of consumers now have a will and a life insurance policy, according to a survey by Consumer Affairs. Respondents took out an average of $60,000 in coverage for a life insurance policy. 
Ten years is the most typical term. Encouragingly, 88% say their life insurance policy meets their needs.

Over the past year, 52% of employers have sought to improve employees’ well-being by expanding voluntary/employee-paid benefits. There is no question that employees value these benefits:

Seventy percent of employed individuals who are benefits-eligible are more likely to work for an employer who offers employee-paid voluntary benefits, according to a survey by Voya Financial. However, only 49% took advantage of voluntary benefits offered by their employer.

Employee mental health has taken center stage as one of today’s top HR priorities with nearly all companies identifying stress and burnout as a threat to workers, according to a survey by Willis Towers Watson (WTW), 

Delta Dental PPO members get access to a large core network of Delta Dental PPO dentists. They also get an additional network of Delta Dental Premier® dentists who discount their UCR fee by an average of 10% to 29%. That translates into real savings for members:

Only about 40% of Americans have enough savings to cover an unplanned expense of $1,000, according to a Bankrate survey. The majority explain that they are saving less due to inflation on groceries, apparel, utilities, rent, cars, and gasoline.