A number of industries stand out for their unique approach to employee benefits, including the insurance industry. Here, the quality of benefits are typically higher and employees tend to engage in the programs to a greater degree.
At their core, benefit programs are designed to help a company attract and retain employees. However, there can be wide variability from one industry to the next. This is true both in terms of the types of benefits offered (health insurance, retirement plans, parental leave, life insurance, etc.) and the specific design of what’s made available to the workforce.
Between the millions of participants on our recordkeeping platform and hundreds of companies who have participated in our surveys, we’ve identified 10 ways retirement benefits (and financial wellbeing programs) are different in the insurance industry.