Belman Insurance Advisor Finds Big Opportunity in Small Businesses

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Following the June 12th article published by, has found an untapped, potentially very lucrative market in small businesses that would offer voluntary benefits to its employees. today urges the insurance industry to actively seek out the business of small businesses (small business being defined as 2-99 employees). According to, a new LIMRA study has shown that “the majority of American small businesses do not offer insurance benefits to their employees.” The reason is cost. Most small business owners feel that they cannot afford to offer benefits to their employees. The study found that only a few employers opted to offer voluntary benefits to employees, opening a potential avenue for financial services companies.

Prior studies have shown that employees like to purchase their benefits through their employer, depending on the particular benefit. It’s convenient and in many cases, benefits may be paid through payroll deduction. Health insurance, low cost life insurance, disability insurance, even pet health insurance are all products that small business employers could offer to their employees on a voluntary basis, costing the employer close to nothing.

Frequently, small businesses don’t have a HR staff. It’s the business owner who wears most of the hats. By “outsourcing” the HR staff to a qualified Agent or Insurance Advisor handling the voluntary benefits, it provides the small business with value that it didn’t necessarily have before and a line of communication for the employees away from the employer, which allows the employer to focus on their business. Additionally, it may put the business itself in a more favorable light when trying to attract new employees. It’s a win-win for all involved.

Belman Insurance Advisor strongly urges it’s clients in the insurance industry to investigate and use voluntary benefits as a way to offer value to clients and to open new revenue streams.

About Belman Insurance Advisor: scrutinizes the all aspects of the insurance industry to obtain the most valuable information to assist insurance agents, professionals and companies in making profitable choices.

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Belman Insurance Advisor
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