Non-Traditional Voluntary Products

Cost: $2,000; published 2017

An increasing number of non-traditional voluntary benefits are sharing the market with traditional voluntary products like life, accident, critical illness and disability. These include products that have been in the marketplace for several years (legal services, purchase programs, identity protection and pet insurance) to newer products offering student loan consolidation, telehealth/telemedicine and financial counseling services.

The purpose of the 2017 Non-Traditional Voluntary Products Spotlight™ Report is to provide carriers data on the overall non-traditional market as well as specific information on the two most prevalent non-traditional voluntary products currently available on the market—legal services and identity protection. The report profiles providers that market these plans including:

•  ARAG
• Countrywide Pre-Paid Legal Services, Inc.
• CyberScout
• Hyatt Legal
• Identity Guard
• InfoArmor
• Legal Access/LegalEASE
• Legal Club of America
• LegalShield
• LifeLock
• U.S. Legal Services

For each provider, the report details the product offering, distribution channels, broker compensation and support, and enrollment and administrative capabilities. 

With this information, carriers can begin to assess some of the opportunities for alliances and/or partnerships with providers offering these types of benefits through their existing distribution channels.