Mortgage Forum Live » aflac http://www.mortgageforumlive.com Let us talk about Mortgage, Real Estate & Finance! Fri, 02 Sep 2011 04:17:06 +0000 en hourly 1 http://wordpress.org/?v=3.1 Voluntary Benefits And The Advantages They Offer http://www.mortgageforumlive.com/2010/02/09/voluntary-benefits-and-the-advantages-they-offer/ http://www.mortgageforumlive.com/2010/02/09/voluntary-benefits-and-the-advantages-they-offer/#comments Tue, 09 Feb 2010 20:22:31 +0000 Michael Chapman http://www.mortgageforumlive.com/2010/02/09/voluntary-benefits-and-the-advantages-they-offer/ Many employees already enjoy the typical benefit packages of standard family health insurance, life insurance, retirement or pension packages, 401ks, as well as others. While these benefits help provide a standard level of comfort and security to many full time workers, some employees may wish to supplement these with additional benefits.

Voluntary benefits programs are becoming more and more prevalent as an offering for employers to supply to their employees. These programs offer a win-win situations for both employer and employee. The employee has the option of choosing which benefits are most applicable and desirous for them. The employer then doesn’t have to pay for benefits that a worker doesn’t want.

One of the more popular voluntary benefits is accident insurance. Companies like Colonial Insurance and AFLAC have popularized the notion of having accident insurance which will help cover expenses above and beyond medical expenses if an employee has to miss work due to injury.

Colonial Insurance and AFLAC offer supplemental insurance products. Some of the policies these companies offer can help pay for things like household necessities such as mortgage payments, car payments, electricity bills, and even groceries, when an injured worker is unable to work due to their injury. Programs such as these can offer a great deal of relief to families who have a primary wage earner employed in a dangerous type of job.

Several voluntary benefits may be offered to employees at the work site. These benefits include: heart/stroke insurance, cancer insurance, vision & dental insurance programs. If the employee’s family has a history of such diseases, these benefits may be especially important. Since employers typically pay administrative costs, such programs can also be beneficial to the employers, as well as the employees.

In the ever more competitive global economy, where employers are searching for anyway possible to stay competitive, offering worksite marketing of voluntary benefits to employees helps the employer to provide the kind of coverage that is best for each employee. Because of this voluntary benefits from companies like Colonial Insurance and AFLAC are quickly on the rise and will continue to become more and more popularized in the years to come.

An effective way for employers to remain competitive in the job market is to offer voluntary benefits to their employees, such as for dental, accidents, or cancer. The employer doesn’t waste money on benefits that some workers don’t want, and those employees that desire extra medical or accident insurance have the option to purchase it. The benefits can help pay household bills when a wage earner is injured on the job and unable to work, for example. Two companies which currently offer these extra benefit programs are AFLAC and Colonial Insurance.

- Michael Chapman

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