Tell the Boss Workers Want Voluntary Life: OneAmerica

10 Sales Behaviors That Prospects Hate

12 Ways to Handle Awkward Business Networking Moments

Uninsured Rate Soars for the Moderately Broke : CDC

Benefits executives at OneAmerica Financial Partners Inc. have an idea for how to improve Americans’ life insurance coverage: Make sure employers know that workers like having access to voluntary life insurance benefits programs.

OneAmerica, the Indianapolis-based parent of American United Life Insurance Company, is using a national press release to make the case that workers value voluntary life benefits more than many employers realize.

OneAmerica is one of the companies supporting Life Happens’ Life Insurance Awareness Month outreach campaign for 2017, which started Friday.

(Related: Life Agents Face Internal Awareness Threat: Marvin Feldman)

In the new press release, which was distributed through, OneAmerica contends that there’s a gap in employers’ level of voluntary life benefits value awareness.

Figures from the federal Bureau of Labor Statistics show that 59% of private U.S. employers offer group life insurance benefits. The take-up rate for those benefits is 98%.

In many cases, however, the group life benefits amount to just 100% to 200% of the workers’ annual salary. Many financial planners say family breadwinners’ need benefits equal to at least 700% of their annual earnings.

OneAmerica sponsored a survey of 2,167 employed U.S. adults in March. Just 45% of the participants said they had voluntary life insurance.

The survey team asked the workers without voluntary life insurance why they had none.

Just 14% said they did not see the value in owning more life insurance.

About 9% said they could not afford voluntary life insurance because they had other financial obligations to deal with.

About 45% said they had no voluntary life insurance simply because their employers did not offer voluntary life insurance.

Jim McGovern, senior vice president of employee benefits at OneAmerica, said in a statement about the results that persuading more employers to offer voluntary life would be a good way to improve workers’ financial security. For most middle-income families, “the workplace benefits is the only opportunity they have to purchase life insurance,” McGovern said.

— Read 3 Peeks Through the Voluntary Benefits Curtains on ThinkAdvisor.

We have a Facebook news feed. Visit

AXA has added a new life rider aimed at the executive benefits market.

You are signed up!

A survey of advisors nationwide reveals how the use of ETFs is expanding and what factors are likely to further support this trend. padding: 0px 81px;width: inherit; Retirement Wire Retirement Wire

Your resource for news, research and analysis to help you deliver more effective outcomes to your clients. width:300px!important;max-height:36px; ThinkAdvisor TechCenter

ThinkAdvisor’s TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business. Resources Guide: How One Advisor Turned $3k into $15M in 9 Months

Kick-start your practice with one advisor’s winning formula.

Hope is not a strategy – this guide to help ensure your clients “golden years” are actually golden

What you need to know about the TSP Modernization Act before it’s passed and Trump’s proposed Federal retirement benefits cuts.

Join this complimentary webcast to learn a new way to evaluate vision benefits so you have truly useful information that will help you find the…

Join this complimentary webcast to learn strategies and tips that will improve enrollment for your clients and their employees.

Join this complimentary webcast for an in-depth discussion on the business cycle and finding fruitful opportunities to invest in each phase.