#041: The Basic Types Of Voluntary Benefits


I recently appeared on Steve Savant’s Money, The Name of the Game. This is episode 2 of a 5 part series regarding Voluntary Benefits. Below are excerpts from the press release announcing this episode. You can listen to the audio as a podcast or watch the video that appears at the bottom of this page.

Press Release

Once the consumer is ready to sit down with a Voluntary Benefits agent, they need to understand the types of policies that may be available and how they might fit their needs.

Disability – This is the easiest Voluntary Benefits policy for most people to understand. Disability pays the policyholder if they are unable to work due to an accident or illness. Most financial planners recommend that their clients protect their most important asset; their ability to earn an income.

Accident – The most popular Voluntary Benefits policy for many insurance companies is their accident plan. These programs usually cover everything from cuts that need stitches to major accidents needing an air ambulance, and everything in between. The benefits are tied directly to the seriousness of the accident.

Critical Illness – These policies are very customizable based on the client’s needs. The customer can purchase a policy that covers just one type of critical illness such as cancer. There are also critical illness policies that cover multiple serious issues such as cancer, heart attack, stroke, parallelization and other conditions.

Life Insurance – LIMRA, which is a worldwide research organization, that for 102 years has kept a pulse on the Life Insurance market, published a study in 2016 that found 56% of American households don’t have life insurance. More alarmingly over 50% of those that had life insurance recognize the need for more. Overall, 7 in 10 of all households said they would have trouble covering everyday living expenses after just a few months if the primary wage earner died.

As a consumer, you need to make sure that you protect your family from the devastating financial realities that often ensue after a serious accident or illness. To make sure your family is protected you must choose the right policies for your family.


Thank You For Listening

I really appreciate you listening to the podcast and would love it if you would be so kind as to rate the podcast on iTunes.  To do that, all you have to do is go to http://successisvoluntary.com/iTunes and follow the instructions.  It will take you less than 30 seconds and would be a huge help to me as it will keep the podcast towards the top of the business charts in iTunes which will help new people discover it. And don’t forget to give it some digital love. Please share on Facebook, Linkedin, Twitter, or anywhere else you hang out in the social media universe!

I look forward to seeing you back here next week, in the meantime, don’t forget that everything you do in this business is voluntary.  Including success!!!

Tim Martin

Author: Tim Martin

Tim has spent the last 22 years in the VB sales world. During that time he has recruited and trained over 2,000 agents to get people to do what they should, but wouldn't do if we didn't come along. In addition to his leadership rolls at the two largest VB carriers on the planet, Tim has worked with outside organizations through consulting and sales coaching. His energetic and humorous key note addresses have also inspired and electrified audiences throughout the United States. Currently Tim is also working on his first book "Success Is Voluntary." Tim and the lovely Dizzy D reside in Peoria, Arizona. They have been married for 29 years and are the proud parent of two gorgeous grown young women, Brittny 27 and Victoria 25.

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