Eastbridge report finds employees making less than $50,000 have higher levels of interest in purchasing most voluntary products
AVON, Conn., May 15, 2018 (GLOBE NEWSWIRE) -- Among employees who do not currently own any voluntary products, interest levels in purchasing various types of voluntary products differed by key demographic components, according to Eastbridge’s MarketVision™—The Employee Viewpoint, Delving Deeper into Employee Demographics report. For example, employees in the lowest income segment expressed higher levels of interest in purchasing every voluntary product than those in the higher income segments. Other findings include:
- Based on their lower voluntary ownership percentage, employees in the smallest employer category (10-49 employees) indicated a higher level of interest in purchasing almost every product on a voluntary basis compared to employees in other size businesses.
- Baby Boomers and GenXers are interested in purchasing supplemental health products like cancer and critical illness, while Millennials expressed greater interest in purchasing universal life/whole life.
- Administrative/clerical, management/professional and “other” occupation employees have higher levels of interest in buying the majority of products when compared to sales/marketing and blue collar employees, particularly for non-traditional voluntary products.
- Employees in the services, financial/insurance and real estate, healthcare, and education industries are very interested in purchasing voluntary hospital indemnity coverage in the future. Manufacturing employees showed the most interest in critical illness, cancer and long-term disability compared to the other segments. In addition, all eight industry segments showed strong interest in buying all of the non-traditional products.
Eastbridge’s MarketVision™—The Employee Viewpoint, Delving Deeper into Employee Demographics report is now available. The cost of the report is $2,000. To purchase, call (860) 676-9633 or email info@eastbridge.com.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.
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Ginger Bates (803) 782-0560
