Voluntary Insurance

Voluntary Insurance

Any insurance policy that an employee may elect to purchase if an employer does not pay for insurance or if the employee feels the employer-sponsored insurance does not provide sufficient coverage. The employee pays all premiums on his/her own (that is, without help from the employer). However, the employer may assist in payment by deducting contributions from the employee's paycheck every month or pay period. Voluntary insurance is particularly useful for small companies or for firms with many part-time employees, for whom employer-paid insurance may not be cost effective.
References in periodicals archive ?
8 percent of all premiums on the market accounted for voluntary insurance, 13.
5 million together with Voluntary insurance protection up to BDT 5.
However, these gaps can be reduced through the purchase of voluntary insurance benefits.
Aflac, the provider of voluntary insurance at the worksite in the United States, has reached an agreement with NXT Capital to manage Aflac's new portfolio, which will focus on investments related to middle-market private debt, the company said.
Richardson approved two filings from the National Council on Compensation Insurance (NCCI) that may help Nevada employers see lower premiums as a result of decreases in workers' compensation voluntary insurance loss-costs and assigned-risk market rates, effective March 1, 2017.
We need to do a better job in educating them about how voluntary insurance can provide solutions for those who are looking to avoid a crippling debt.
The Cadillac Tax is confusing and prompts questions from employers and benefits professionals--especially about when to make changes to benefits plans and whether voluntary insurance is affected.
The economic downturn has caused voluntary insurance carriers to tighten underwriting standards and increase minimum premiums, Honey said.
Regardless of the outcome of health care reform, advisors and agents have a strong opportunity today to provide clarity around voluntary insurance and capitalize on its increasing relevance and value for employers and employees alike.
Employee Benefits division (ING) has announced the expanded availability of its voluntary insurance products through distribution on BENEFITFOCUS HR InTouchA[R], a technology platform for online enrollment, HR efficiency and employee communication.
Full browser ?