With open enrollment season fast approaching, benefits consultants may want to start gearing up for their employee information sessions.
While many staff members may feel they know everything they need to know about their employee benefit packages, some may be woefully under-educated when it comes to voluntary benefits like life insurance, according to IntelliQuote.
Life insurance is a widely offered worksite benefit, and the U.S. Bureau of Labor Statistics reports that of the 61 percent of workers that have access to the benefit, 59 percent take advantage of it, according to the source. However, some employees may not fully understand the benefits they are signing up for, the source explains.
"While group life insurance plans can be a terrific benefit for employees, it's critical that individuals understand the full extent of the coverage," said CEO of IntelliQuote Gary Lardy.
Benefits consultants should be sure they go over the ins and outs of the benefit with employees before open enrollment hits full swing. Elements of coverage should be fully explained in terms staff can easily understand. While sit-down information sessions can be very helpful for sharing such information, making HR representatives available for one-on-one question and answer sessions may be a great way to help staff members who still have questions.
