Life Insurance
Term Life

Coverage for a specific amount of time
Option to possibly convert to a permanent policy later
Provides highest face amount for lowest premium
Best for:
Maximum coverage for lowest premium
Whole Life

Guaranteed interest rate on cash value accumulation
Builds cash value with ability to borrow
Remains in effect until age 100 as long as premiums are paid
Best for:
Building guaranteed cash value
Universal Life

Long-term protection with ability to accumulate some cash value over time
Flexibility payment schedule
Access to cash-value for emergencies if enough value has built up
Best for:
Flexibility
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Why Benefits Matter
Benefits are important to employees, and they're important to you company's bottom line too. The Aflac WorkForces Report found that employer-offered benefits are a strong differentiator when it comes to attracting employees, retaining them and protecting thier well-being.
STRONG BENEFITS PROGRAMS ARE LINKED TO JOB SATISFACTION, RETENTION AND RECRUITING
Improving benefits ranks second (after increasing pay) as a way to retain employees... 34% say this would help keep them in thier job.
A strong majority of employees (85%) see a growing need for supplemental insurance benefits.
Over half of employees surveyed (55%) would be at least somewhat likely to accept a job with lower compensations but more robust benefits package.
COMPANIES GIVE AN GAIN VALUE BY OFFERING SUPPLEMENTAL INSURANCE
1 in 5 employees couldn't go more than one week without a paychek; 44% couldn't go more than three weeks.
Source:
ABOUT THE STUDY
The 2018 Alfac WorkForces Report is the eighth annual study examining benefits trends and attitudes. Conducted by Lightspeed, the study captured responses from 2,000 employees across the United States in various industries. Visit AflacWorkForcesReport.com
This article is for informational purposes only and not intended to be a solicitation. Aflac individual coverage is underwritten by American Family Life Assurance Company of Columbus or American Family Life Assurance Company of New York.
Alfac WorkForces Report