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.
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Voluntary insurance of civil liability for payment of non-medical and property.
According to the 2015 Aflac WorkForces Report for Small Businesses released today by Aflac (NYSE: AFL), the leading provider of voluntary insurance at the work site in the United States, a majority of workers employed in small businesses are willing to consider a job with slightly lower pay but better benefits, while half of potential job-changers say improving their benefits package could keep them right where they are.
The economic downturn has caused voluntary insurance carriers to tighten underwriting standards and increase minimum premiums, Honey said.
Second, private voluntary insurance is very limited, as are out-of-pocket payments in general.
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.
The voluntary insurance programs are designed to protect Uniastrum cardholders with pre-agreed overdraft facilities.
we want to suggest that you add one about your voluntary insurance efforts.
There are three suggested models: a part-funded "purchase" option, a voluntary insurance scheme or a compulsory insurance plan.
A voluntary insurance scheme, under which the state would pay the same proportion;.
Another MOL strategy is to remove voluntary insurance coverage under the Workplace Safety and Insurance Act called "self-declared independent operator status.
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