Imagine a workplace where employees feel truly valued and supported. Providing ancillary insurance products can make this vision a reality, significantly enhancing your overall benefits package and leading to increased job satisfaction, loyalty, and productivity. Let’s explore how these benefits can make a difference for your team.

Dental Insurance

Think about the last time you had a dental issue. Regular check-ups and treatments not only maintain good oral health but also prevent more serious health problems. With dental insurance, your employees can save on costly procedures, making your company more attractive to potential hires and helping retain current staff.

Vision Insurance

Regular eye exams can catch vision problems and other health issues early. By offering vision insurance, you help your employees reduce costs for eye exams, glasses, and contact lenses. Clear vision means better performance and fewer errors at work, benefiting everyone.

Employer-Paid Life Insurance

Providing financial security to your employees’ families in the event of their death offers immense peace of mind. This benefit, fully covered by the employer, adds significant value to the compensation package, showing your commitment to their well-being.

Voluntary Life Insurance

Allow your employees to customize their coverage based on their individual needs. Group rates are typically lower than individual rates, making it more affordable. Plus, they can adjust their coverage as their life circumstances change, offering flexibility and peace of mind. 

Employer-Paid Short-Term Disability

Imagine the relief your employees would feel knowing they have income protection if they are temporarily unable to work due to illness or injury. This benefit reduces financial stress during recovery periods and boosts morale, fostering loyalty and dedication.

Employer-Paid Long-Term Disability

Long-term security is crucial for employees who are unable to work for extended periods due to serious health conditions. This benefit ensures they can maintain their standard of living, demonstrating your commitment to their long-term well-being.

Voluntary Hospital Indemnity Insurance

Hospital stays can be stressful and expensive. Offering a cash benefit to cover out-of-pocket expenses such as deductibles, copayments, and other non-medical costs provides financial support and peace of mind, allowing employees to focus on recovery.

Voluntary Critical Illness Insurance

A lump-sum payment upon diagnosis of a covered critical illness, such as cancer, heart attack, or stroke, can be a lifeline. This benefit helps cover the costs associated with serious illnesses, providing financial security and support for recovery.

Voluntary Accident Insurance

Accidents happen, and when they do, immediate financial relief is essential. This insurance covers medical expenses, emergency room visits, and other costs related to accidental injuries, offering comprehensive protection and support for follow-up treatments and recovery.

Market Trends and Statistics

Based on the 2024 Employee Benefit Trend survey, which included responses from 2,595 employers and 2,809 employees:

• 75% of employees agree that having a wider array of benefits shows that employers care about their well-being.
• 78% of employers perceive high employee satisfaction with the benefits offered.
• 57% of employees are satisfied with their current benefits.
• 60% of employees look to their employer for more help in achieving financial security through benefits.
• 86% of employees satisfied with their job are offered more than 10 different benefits.
• 67% of employees satisfied with their job are offered fewer than 10 different benefits.
• 85% of employees intending to stay with their employer for the next 12 months are offered more than 10 different benefits.
• 70% of employees intending to stay with their employer for the next 12 months are offered fewer than 10 different benefits.
• 65% of employees say it’s important that the benefits offered are affordable.
• 59% of employees worry less about unexpected financial issues because of the benefits they receive.

By offering a comprehensive range of ancillary insurance products, you can create a supportive and attractive workplace, fostering a more satisfied, loyal, and productive workforce. Your employees will appreciate the care and consideration you put into their well-being, making your company a place where they want to stay and grow.

For more information on insurance benefits through ISSA partner Bullock & Associates, or to explore other member savings through our Member Discount Program, visit mdp.issa.com.