AUL group voluntary enrollment results exceed industry average
AUL group voluntary enrollment results exceed industry average
Indianapolis -- July 14, 2005
When it comes to group voluntary life and disability insurance enrollment levels among employers nationwide, the Group Operations area of American United Life Insurance Company® (AUL) exceeds the industry average by as much as 30 percent. This is according to the results of an AUL study involving more than 1,600 AUL employer groups enrolled between 2001 and 2004.
Overall, AUL had an average participation rate of 51 percent for all enrolled cases. The industry average for employee participation of combined voluntary product enrollments is 30 to 40 percent, according to a 2003 LIMRA study "Worksite Marketing of Voluntary Benefits: The Employer’s Perspective."
Furthermore, the findings show an average case-by-case participation rate of 56 percent when enrolled by an AUL representative. Groups enrolled utilizing outside enrollers had an average participation rate of 37 percent. The study also found that groups in the top quartile – those with average employee participation rates of 60 to100 percent – utilized enrollment strategies similar to AUL’s, such as personalized enrollment kits, payroll stuffers and visual aids. Strong employer support for the product offering and the enrollment process was also prevalent among all of these groups.
The study also pinpointed three critical areas that employers should keep in mind when choosing a carrier: dedicated enrollment support, great communication/marketing materials and bilingual capabilities. When carriers offer all three services, enrollment participation is at its highest. Each of these services is part of AUL’s existing approach.
To learn more about CareGuard, call (800) 524-3966 or e-mail PRCenterSL@oneamerica.com.
For more information on this study or group voluntary products offered by AUL, contact Carissa Newton at (317) 285-2364.
AUL is a OneAmerica® company.
