Supplemental benefits or as it was previously known as voluntary or payroll deduction insurance has increased dramatically over the past 15 years.
Companies like Aflac, Colonial,Transamerica, UMUM, and Allstate are most of the leaders of the supplemental benefit industry. Their products include Cancer, Critical illness, accident, hospital income, life, disability, legal and dental insurance. Non-Insurance services like discount dental, discount legal, concierge services, online shopping for consumer products, identity theft monitoring & protection are gaining in popularity. Now, most of these products (many were previously only available through employer sponsored payroll deduction) and services are available individually as well, online 24/7/365.
As independent general agents and brokers we are able to offer a multitude of products that best serve our brokers and employers. Underwriting rules are changing and becoming more liberal. More cases are being issued as simplified or guaranteed issue. And voluntary cases that used to need a high rate of participation now only require a smaller amount of participation or maybe only a minimum number of employees.