Benefit Brokers Continue to Sell Higher Amounts of Voluntary

Although Benefit Brokers still do not sell as much voluntary as Voluntary Brokers, the percentage of Benefit Brokers surveyed who sell between $100,000 and $500,000 of new voluntary premium annually increased by 13 percentage points over the past three years, according to Eastbridge’s 2018 Brokers and Voluntary Benefits – The Competition Intensifies Spotlight™ Report. In addition, more brokers say they actively sell or cross-sell voluntary to all accounts. That percentage has increased from 48 percent to 57 percent over the past three years.

A joint effort between BenefitsPRO and Eastbridge for the past six years, this annual survey tracks brokers’ degree of focus on voluntary, as well as their opinions and practices across a variety of topics, such as commonly sold products, most frequently used carriers and enrollment methods. Some of the key findings of the report include: (read more)