We run many articles about surveys conducted by big insurers, and by big benefits and insurance distributors. Here, a broker out in the field talks about how he organized his own survey, to find out what the Millennials in his own corner of the universe are thinking... Why I Created a Survey (Related: Millennials Are Learning to Love Life Benefits) life insurance What was in the survey
- Which one employee benefits (NOT Including health insurance) is the most important to you?
- Which one benefit would you like your company to offer it does not offer now?
- If you had to stop working because of a serious accident or illness, and would not be returning to work for a long time, would you have the cash to pay your bills?
- On a scale of 1 – 10 (with 10 being highest importance) what value would you place on life insurance as an employee benefit?
- Year you were born _______.
- Your gender __________.
Survey methodology Results Question 1: Which one employee benefits (NOT Including health insurance) is the most important to you?
- 401(k) plan, or 401(k) plan with company match: 13 selections.
- Paid time off: 6 selections.
- Paid vacation: 3 selections.
- Flex schedule: 2 selections.
- Commuter reimbursement: 2 selections.
- Pension: 2 selections (could also be included with 401(k) plan).
- Not applicable: 2 selections.
- Company stock ownership: 1 selection.
- Long-term disability: 1 selection.
- Medical: 1 selection (even though I asked respondents not to give health insurance as the answer).
- Parties at office: 1 selection.
- Vision and dental: 1 selection.
- Retirement plan: 1 selection (could be included with 401(k) plan).
- Work at home: 1 selection.
Question 2: Which one benefit would you like your company to offer that it does not offer now?
- Flex time: 6 selections.
- Gym membership: 5 selections.
- 401(k) plan: 4 selections.
- Food: 4 selections.
- Not applicable: 4 selections.
- Summer Friday hours: 2 selections.
- Car allowance: 1 selection.
- Commuting cost reimbursement: 2 selections.
- Company events: 1 selection.
- Company match for charity contributions: 1 selection.
- Dental: 1 selection.
- Dogs at work: 1 selection.
- Extra maternity leave: 1 selection.
- Health insurance: 1 selection.
- Money for Insurance: 1 selection.
- Overtime: 1 selection.
- Paternity leave: 1 selection.
- Standing desk: 1 selection.
- Tuition reimbursement: 1 selection.
- Not sure: 1 selection.
gym membership coverage paid leave for a variety of family-related issues Question 3: If you had to stop working because of a serious accident or illness, and would not be returning to work for a long time, would you have the cash to pay your bills?
- Would have the cash to pay expenses: 13 respondents.
- Would not have the cash to pay expenses: 17 respondents.
- Might have the cash to pay expenses: 13 respondents.
Question 4: On a scale of 1 – 10 (with 10 being highest importance) what value would you place on life insurance as an employee benefit?
- 10 (highest importance): 4 selections.
- 9: 1 selection.
- 8: 8 selections.
- 7: 6 selections.
- 6: 5 selections.
- 5: 8 selections.
- 4: 1 selection.
- 3: 1 selection.
- 2: 4 selections.
- 1 (lowest importance): 4 selections.
Jerry Cohen is a broker in the life, health and Medicare supplement insurance markets. His office is in Port Jefferson Station, New York.
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