According to Insurance Business America, two new reports add to growing evidence that voluntary benefits products are going to be hot commodities come 2014. According to an industry survey from Eastbridge Consulting Group and a study from MetLife and, producers offering voluntary benefits packages will see profits soar as health reform causes commercial clients to rethink their approach to insurance.
Nearly 90% of survey respondents told Eastbridge they expect sales of voluntary benefit plans to increase in the next 12 months. Producers were especially confident, with almost half of participating agents and brokers saying they expect sales to “increase a lot.”
Meanwhile, according to MetLife’s 2013 Study of Employee Benefits Trends, 58% of responding employers aid providing voluntary benefits is a “significant benefits strategy.” That’s up from 32% who felt the same way in 2010.
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