Closing the Underinsured Gap:
• Step 1: Evaluate Your Plan• Step 2: Enhance Your Group Life Benefits Package• Step 3: Educate—Promote the Value of Insurance
MetLife presented the results today of a study that researched the importance of employers helping maximize the value of group life insurance benefits. The report, “Three Steps to Closing the Underinsured Gap: Evaluate, Enhance, Educate,” is offered by MetLife as a tool to highlight the workplace as a key source for driving change of the underinsured.
Graham Cox, vice president of group life products for MetLife, said that Americans are largely underinsured and the workplace can be pivotal in turning that tide around.
“More than half of working Americans look to the workplace for their financial protection products,” Cox said in a statement. “A perfect opportunity exists for employers to take some steps today that can have long-lasting effects. Targeted communications, educational tools and access to supplemental amounts of coverage through the workplace – even when 100% employee-paid – can encourage employees to obtain the right amount of coverage for their personal needs.”
The full report can be found here in PDF format: Three Steps to Closing the Underinsured Gap
The study was comprised of responses from 1,000 widows and widowers, with the deceased spouse between the ages of 25- and 60-years-old at time of death.
