Small Business Owners: Why Offer Voluntary Benefits?
You’ve found a great candidate for your small business. They’re talented and enthusiastic, but they’re also considering another position at a bigger company. Ultimately, the bigger company offered more benefit options and aligned better with their career goals, so the candidate decides to work with them.
Business owners know that exceptional employees lead to a successful business. However, today’s talented workforce is looking for extra employment benefits that will make an employer stand out. Small businesses can have a hard time balancing the cost of additional benefits with the value they bring in attracting or retaining employees.
You can offer additional attractive benefits to your employees at no direct cost to your business.
What are voluntary benefits?
Worksite voluntary benefits are simply employment benefits you can offer your employees. Business owners can choose if they want to pay part of their employees’ premiums or if they would like their employees to pay the full premiums.
Illinois Mutual can help you offer these benefits to your employees:
Short Term Disability – Individual and Group options
Can replace a portion of your employee's income if a disability due to illness or injury prevents your employee from working.
Provides a financial cushion in the event of accidental bodily injury as outlined in the policy, with specified benefit amounts based on the coverage level your employee selected.1
Term life Insurance
Provides your employee's beneficiary with a specified death benefit amount at a time when it is most needed.
Critical Illness Insurance
Provides a lump sum payment which can be used for any purpose when the insured person is diagnosed with a covered critical illness.1
1Illinois Mutual Accident and Critical Illness coverages are limited benefit policies. These policies are not intended to replace major medical, medical expense or Medicare Supplement coverage, and they do not meet the Minimum Essential Coverage Requirements of the Affordable Care Act.