For brokers, administration and service is a critical consideration when choosing a carrier, topped only by product features and benefits. (Image: Cifotart/stock.adobe.com)
"You get what you pay for." It's a cliché because it's true. Whether you're choosing a restaurant, kicking the tires of a new car or trying on shoes, a lot more goes into your purchasing decision than the price tag.
The same applies when you're deciding which carrier's voluntary product to offer your clients. Price is an important consideration to keep the benefits package affordable for employees, but defaulting to the lowest-price option may not be the best choice.
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