Voluntary Products & Strategies

Voluntary health insurance products are optional benefits that employees can choose to purchase to supplement their group health insurance coverage. Here are some examples of voluntary health insurance products that are available in group benefits:

1. Dental insurance: Dental insurance can cover the cost of routine dental care, such as cleanings, fillings, and extractions. Some plans may also cover orthodontic treatment, such as braces.
2. Vision insurance: Vision insurance can cover the cost of eye exams, glasses, and contact lenses. Some plans may also cover the cost of vision correction procedures, such as LASIK.
3. Disability insurance: Disability insurance can provide income replacement if an employee becomes disabled and is unable to work. Short-term disability insurance can provide coverage for a few months, while long-term disability insurance can provide coverage for several years.
4. Life insurance: Life insurance can provide financial protection for an employee’s beneficiaries in the event of their death. Group life insurance policies are typically offered at a lower cost than individual policies.
5. Accident insurance: Accident insurance can provide financial protection in the event of an accidental injury, such as a broken bone or a concussion. Some plans may also cover the cost of emergency medical treatment.
6. Critical illness insurance: Critical illness insurance can provide financial protection in the event of a serious illness, such as cancer, heart attack, or stroke. The policy can provide a lump-sum payment that can be used to cover medical expenses or other costs associated with the illness.

Overall, voluntary health insurance products can provide valuable coverage options for employees, allowing them to customize their benefits to meet their specific needs. By offering a range of voluntary products, employers can attract and retain top talent, while also supporting their employees’ health and financial well-being.