10 good reasons for you to provide voluntary life insurance offers for employees

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1Reduces costs

Successful organisations understand that low employee turnover and high employee satisfaction directly affect profits. The costs to recruit and train new staff are significant. It is often cheaper to retain people than replace them. Employees who feel you value them are less likely to leave.

2Demonstrates you care

Offering your employees basic life insurance, often at a lower cost than retail rates due to using the organisations heft to acquire preferential pricing, demonstrates your company cares about employees and their families.

3Doesn’t use your valuable time or resources

You can deliver the offer of voluntary life insurance as an additional employment benefit without any significant input of time or money.

4Covers employees that may not otherwise qualify for life insurance

 

Employees with existing medical conditions, obesity or genetic conditions may be able to get cover up to a specified limit without any questions asked under the compulsory cover option. This is especially useful with an aging workforce. Older employees can be susceptible to medical conditions.

 

5Engenders loyalty

Employers gain loyalty from employees who understand their employer cares about them.

6Increases productivity

 

Focusing on financial wellbeing as part of a wider employee wellbeing programme has benefits to employee productivity. 

 

7Does not involve any recommendations by you, the employer

There is no need for an endorsement or a recommendation of any product or service from your organisation. The financial product recommendations are directly sourced from financial advisers (either Authorised Financial Advisers or Registered Financial Advisers) able to provide that advice and / or service. Essentially it is their focus of interest and it is their responsibility. This is an environment where the administration, communication and compliance are conducted by a third party and not your organisation.

8Delivers your employees product pricing that they likely couldn’t get independently

Having multiple insurance companies quoting prices, along with the potential for bulk discounting, leads to more competitive pricing.

9Convenient, non-disruptive processes

By utilising our qualified and experienced advisers to assist your staff in their financial wellbeing you will save time. With YES providing a service that integrates with your existing benefit package, you are able to focus on more important issues such as growing your business.

10Helps maintain positive relationships with employees when adverse events occur

Insurance can help your employees to manage financially when sick-leave entitlements run out. Plus, in tragic circumstances, when an employee is injured or killed, the insurance you’ve helped your employee acquire could be of great benefit to their family.

 

Call today to book a time that fits with your schedule to discuss your organisation’s needs or email for more information: contactus@YourEmployeeServices.com