BROKERS SPEAK OUT ON VOLUNTARY PRODUCTS, CARRIERS AND ENROLLMENT

The most notable change in the annual Benefits Selling/Eastbridge Voluntary Survey is the percentage of brokers saying they actively sell voluntary products. In 2014, 19 percent said they did, but that number jumped to 32 percent in this year’s survey.

This survey reflects the thoughts of classic worksite brokers and employee benefit brokers in the following areas:

  • The increase in new voluntary cases
  • Voluntary products offered most frequently
  • How they chose voluntary carriers
  • Enrollment methods used
  • Carriers used

When asked if the number of voluntary/worksite cases they write annually has changed over the last one to three years, 70 percent of brokers said it has increased. Close to one-fourth described the increase as significant.

There are some differences in the volume of voluntary sold (both the number of cases and the annualized new business premium) as well as their described level of effort for voluntary and their acceptance of non-traditional voluntary products. This article looks at these similarities and differences in more detail.

Click here to review the results of the Broker Voluntary Survey.

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