Employee Benefit News

What goes around comes around

There are three reasons why co-workers Bob Burke and Brad Collins left their jobs in insurance sales to found The Farmington Company in 1980: product administration, ongoing service and partnering with producers. Having worked together under an independent agent for the previous five years, the pair realized these factors were the missing ingredients to business growth. Thirty years later, solid dedication to the three principles keeps Farmington among the top independently operated voluntary benefits enrollment and communications firms in the country.

Seeking higher ground

There's almost universal agreement among producers and their employer clients, as well as the employee populations they serve, that one's income is a person's most important asset - and that a sound financial-planning strategy must be in place to protect those earnings.

Cancer coverage: More than just a sale

Cancer can be a powerful motivator - just ask Gregory L. Feste, Sr., who was diagnosed with cancer in December 2007. Two months later, Feste launched his benefits brokerage, specializing in cancer insurance.

Not all is negative when it comes to home and auto

With 2009 being one of the worst years on record for both the auto and home industries, it seems logical that voluntary auto and homeowner insurance policies would have suffered a decline as well. Not so, say two of the industry's leading carriers. Both MetLife and Travelers actually saw worksite sales increase during the recession.

Life insurance: A buyer's market

After a year marred by layoffs, decreased revenues, reduced productivity and low morale, employers are desperate for good news to share with employees. And whether it's lower rates for employees, additional bells and whistles on coverage, or more plan options, life insurance is one of the few areas where there's good news to share.

Supplemental heart attack and stroke coverage continues to evolve

Advances in medical technology and the high quality of medical care that Americans enjoy mean that more people are surviving illnesses like heart attack, stroke and cancer.

Filling the gap

Hospital indemnity coverage may not have the name recognition of disability or the cachet of critical illness, but it could be poised for a rise up the ranks in this increasingly consumer-driven health care market.

In view of voluntary value

Filling the gap

Hospital indemnity may not have the name recognition of disability or the cachet of critical illness, but it could be poised for a rise up the ranks in this consumer-driven health care market.

Pets are dependents, too

Go ahead and roll your eyes and let out a snigger or two, but with new vendors entering the marketplace and others predicting 25% growth, pet insurance is serious business. Add on the fact that the voluntary benefits are increasingly being shopped by the under 35 crowd, and that's reason enough for Steven Farish, SVP and practice leader of voluntary worksite benefits for Wells Fargo Insurance Services, to work with at least seven pet insurance vendors.

Bringing more options to voluntary

The Standard's recently released Your Choice voluntary long-term disability insurance looks to further empower employees with more options for plan customization. Terri Levine, director of products and service management, talks about the Oregon-based firm's new approach.

Accenture employees can finance own unpaid leave

A global consulting firm known for its innovative benefit programs is taking a novel approach to income replacement — using it to help employees guarantee an income stream during periods of unpaid leave.

One stable benefit

There's nothing revolutionary on the horizon for voluntary critical illness plans - and that's a good thing, says Don Hansen, co-owner and president of The Ark Group.

The vast potential of voluntary benefits

Just as the addition of spices can elevate an ordinary dish to a gourmet meal, including voluntary benefits in a benefits package makes the whole far greater than the sum of the parts.

First things first

It's not surprising that many in employee benefit sales still insist that communication is the cornerstone of success. What is interesting is how far upstream advisers should go in order to make sure communications flow smoothly and profitably - for employer, employee and you, the employee benefits sales professional. That's just some of the advice gleaned from a recent Baltimore roundtable EBA convened to discuss the issues and trends shaping the industry.