Bundles might refer to product combinations, some with pricing and/or underwriting concessions. But at a voluntary-carrier level, bundles also refer to the attempt to combine products, billing, administration and enrollment into a single (hopefully seamless) package.

There are great advantages to a bundled approach. Bundles are simpler, easier to administer, and the carrier usually provides a single point of contact who will often manage the entire process, from sales through to post-enrollment service. Brokers who are new to voluntary, or who have not mastered the potential complexities of unbundled approaches, usually find these packages the most efficient way to offer voluntary benefits.

But there is often a downside to bundles. The carrier may not be excellent at every product, or underwriting, or may not offer competitive compensation. Billing and administration might be substandard, or the carrier's enrollment options may not be what the broker is looking for. It's not uncommon for a bundle to include one or more less-than-excellent components. Brokers need to scrutinize the tradeoffs they and their clients face with a bundled approach.