Nov 20, 2024
Why Offer Voluntary Benefits?
For health insurance brokers, pitching voluntary benefits is a key strategy for helping clients enhance their employee offerings, improve satisfaction, and boost retention. Voluntary benefits allow employers to create robust, customizable benefits packages that address a range of employee needs—all without a significant financial impact.
Look to Amwins Connect to learn more about the most popular voluntary benefit options. Our expert Regional Sales reps are very familiar with all the options. We are here to help you build a winning strategy and a richer portfolio in the process. Here’s how and why.
Voluntary benefits can be a game-changer for your clients:
1. Flexible, Affordable Options for Small Employers
Many small businesses want to offer options like dental, vision, and life insurance. When structured as voluntary benefits, you can show them how they can afford to. Essential offerings that enrich employees’ lives can be designed to fit every budget. Brokers can offer plans that are entirely employer-funded, cost-shared, or fully employee-paid, giving employers the flexibility to choose what works best for their workforce and financial situation.
2. Valuable Coverage with Minimal Employer Cost
Offering voluntary benefits provides employees access to coverage they may not otherwise afford, from life insurance to vision and dental plans. For example, an employer might cover basic life insurance equal to 1.5 times an employee's salary, with an additional voluntary option for employees to increase coverage. These add-ons enhance employee loyalty and satisfaction at a low cost to the employer.
3. Enhanced Employee Satisfaction and Financial Security
For employees, voluntary benefits like dental and vision coverage offer peace of mind and financial security, helping them cover healthcare expenses and plan for their future. For employers, this results in higher satisfaction, lower turnover, and a stronger workforce. Payroll deductions for voluntary benefits make contributions manageable for employees, fostering loyalty and long-term engagement.
Why Brokers Should Embrace Voluntary Benefits
By offering voluntary benefits, brokers can expand their portfolios and provide richer solutions that meet diverse client needs. With options for every budget, you’re equipped to build compelling, comprehensive benefits packages that resonate with small to mid-sized employers.
For guidance on the best voluntary benefits for your clients, connect with your Amwins Connect Regional Sales Representative. Our team can help you build strategic benefit plans with quality bundles, including dental, vision, and life for a successful enrollment season.
