Workers expect voluntary employee benefits such as life and health insurance to play a significant role in their lives over the next five years.
According to a Harris Interactive poll, 82 percent of employees believe having life insurance will be important in the next five years. Furthermore, 77 percent said the same thing about disability insurance, while 76 said the same thing about critical illness insurance.
“Employees clearly see the need for many types of insurance protection, especially as they get older,” said Randy Horn, CEO of the insurance company that commissioned the poll.
However, only 62% of workers polled said they were covered by their employer’s or their spouse’s life insurance policy.
According to the survey, many workers are concerned about whether or not voluntary benefits will be available in five years. When polled, nearly half (48%) expressed this concern.
Workers can benefit financially from life insurance in a variety of ways, including ensuring their family will have a source of income if they die. Annuities, which can be used as an investment vehicle for participants, are also available from providers.