Partner News


New Eastbridge Report Details 2016 Voluntary Product Trends

A new Eastbridge Report was released this April on the current product trends in the voluntary market. Research took place in February 2016 via an online survey. Reponses represented 35 different carriers.

According to the survey respondents, the most pronounced product trends in the voluntary market are first: “more guaranteed issue" and “lower participation requirements.” This is good news for Kemper Benefits as our products offer guaranteed issue and include a 5 life minimum participation requirement. Other product trends are more features, options and lower prices; however, their popularity has declined over the years.

The survey also found 74 percent of carriers plan to introduce new voluntary products in 2016.1 Kemper Benefits has just released a new Signature Gap insurance plan with customizable features such as deductible options and broad range of outpatient options.

Hospital indemnity insurance is the most commonly identified product to be added in the next two years.1Kemper Benefits currently has what we believe is a best-in-class Hospital Indemnity insurance product. With the Kemper Benefits Hospital Indemnity insurance plan, brokers can offer a solution that works with both traditional HDHPs and HSA-compatible HDHPs, providing employees with a supplemental benefit to help cover their hospital bills.

One of the most frequently offered voluntary products continues to be Critical Illness insurance, increasing 13 percent (71 percent to 84 percent) from the time of the last Eastbridge survey in 2012.1 Kemper Benefits Critical Illness insurance covers 19 critical illnesses and has features like the Benefit Enhancement Rider, Reoccurrence Benefit and Additional Occurrence Benefit to help set it apart.

Eastbridge predicts the top growth products over the next 2-3 years will be Critical Illness, Accident, Hospital Indemnity, Whole Life and Term Life. This year, Whole Life climbed ahead of Term Life.1The Kemper Benefits Whole Life insurance plan has a guaranteed interest rate of 4.5 percent now and for the life of the policy.

With many carriers reporting more than $50 million in voluntary sales in 2015, it’s no wonder voluntary benefits are grabbing the attention of those in and outside of the industry.1 Take the time to learn about the Kemper Benefits solution-based approach to benefits. Start the conversation early with your clients. Voluntary benefits are a mainstream offering and are seen as benefits to be integrated into an overall health and welfare strategy. All of the Kemper Benefits products dovetail and work alongside an employer’s major medical or minimum essential coverage.

Kemper Benefits represents the collective expertise of a voluntary benefits business built on relationships and a solid reputation for responsiveness, accountability and ethics. Our goal is to provide a customized benefit strategy that is effective and valuable to our broker partners, employers and employees. We believe that your experience with Kemper Benefits will far exceed your expectations.

Contact Kemper Benefits today to work with people who understand your needs and discover how easy it is to offer your clients some of the best solutions on the market.

  1. Eastbridge Frontline Report: Voluntary Product Trends. Eastbridge Consulting Group, Inc. April 2016