Why Should Employers Offer Life Insurance Planning at the Worksite?

The life insurance distribution business has changed rapidly over the past 10 years. Agents no longer solicit sales “door-to-door.” Financial advisers today target the top 20% of income earners. Of the remaining 80%, some find coverage via the internet but the vast majority depend on their employer for guidance.

Consider these statistics:

LIMRA - (Life Insurance Marketing and Research Association [PDF]):

  • 33% of working US adults have no life insurance
  • 33% of working US adults have only their employer-paid insurance
  • 33% have some life insurance

Hartford

  • “70% of American workers want more information on life insurance” - (December 2008)

Metropolitan

  • “41% of employees consider workplace benefits to be the foundation of their personal financial planning”
    (November 2008)

In the United States, the healthcare industry is in crisis because somewhere between 30,000,000 and 50,000,000 people have no health insurance. According to the LIMRA survey above, there are 65,000,000 to 130,000,000 with no life insurance!

Voluntary worksite life insurance is the most effective distribution system to address this need. Underwriting can be “guarantee issue,” prices are competitive and the best policies are portable and convertible into permanent insurance.

For more information:

Call 888.282.3303 to discuss or
Complete Employer Benefit Overview On-Line and we will forward a customized information shet