Less than half of employed Americans have workplace group life insurance

When asked if they had auto, health or home insurance, 80 percent of Americans say they have at least two of these. But over half of employed Americans (55 percent) don’t have voluntary group life insurance provided by their employer.
In a March 2017 survey conducted online by Harris Poll on behalf of OneAmerica®, only 45 percent of employed Americans claim to have voluntary group life insurance provided by their employer. But the survey of 2,167 U.S. adults ages 18 years or older, among whom 1,110 are employed, showed that it wasn’t because of a lack of interest. Instead, the survey found that many employees who do not have voluntary group life insurance provided by their employer say their employer doesn’t offer it (45 percent). Among those who don’t have voluntary group insurance provided by their employer, only a small percentage (9 percent) said they had other obligations or did not see the value in it (14 percent).
“More and more Americans are realizing the value of group life insurance for their families and their financial futures,” said Jim McGovern, senior vice president of employee benefits at OneAmerica. “For most middle America families, the workplace benefits meeting is the only opportunity they have to purchase life insurance. A lot of employers think that group life insurance isn’t something that would attract the type of workers they’re looking for, but as our survey shows, that’s widely untrue. Even among younger people, the survey shows that there is notable interest in being covered under group life insurance.”

SOURCE: OneAmerica press release.
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