The Value of Workplace Voluntary Benefits in an Economic Downturn
When the country experiences an economic downturn, consumers evaluate their current out-of-pocket expenses. Some people look to trim their financial and insurance portfolios, but insurance protection is one of the most valuable items consumers should consider during a period of financial stress.
The consumer's ability to protect their earnings and their lifestyle becomes critical should the person become disabled, get injured, or suffer from a life-threatening critical illness. Saving a few dollars each week should be balanced against the valuable benefits many workplace products may provide. For example:
- Disability insurance can provide a stream of income to ensure monthly bills can be paid.
- Accident insurance can provide supplementary income or help cover copayments.
- Critical illness insurance may mean the difference between financial strain and being able to cover medical expenses.
Workplace voluntary benefits are unique because the benefits are paid directly to the consumer. No copayments are required to receive benefits, and benefits are paid in addition to any group health plan or supplemental plan in place.
Humana is pleased to help educate you on the value of sustaining a healthy lifestyle and financial portfolio during transitional times.