Know why your business should consider offering voluntary insurance

May 2014

Does your small business know the value of voluntary accident insurance?

Not only does voluntary insurance play an important role in the benefits package that your company provides, but it can help reduce your company’s workers’ compensation claims.

The Aflac Workers’ Compensation Report revealed that 42 percent of all companies providing access to voluntary accident insurance experienced declines in their workers’ compensation claims.1

In addition to asking employers if they could confirm a decline in their workers’ comp claims, the Aflac-sponsored survey also inquired about the significance of those declines.2 Here’s what they had to say:

  • 14 percent of employers reported declines of 50 percent or more, while 17 percent reported declines of 25 to 49 percent.
  • Specifically, 15 percent of small businesses reported reductions of 50 percent or more, while 9 percent reported declines of 25 to 49 percent.

The results demonstrate that by making voluntary accident insurance available to their workers, businesses can often decrease the frequency and expense of workers’ compensation claims.

As part of the Aflac survey, employers were asked whether they currently offer voluntary accident insurance to their workers. A majority of them, 58 percent, said they do not.

This presents an opportunity for small businesses to help protect their employees by offering voluntary benefit options.

Learn more about Aflac's solutions
1 Aflac’s “Impact of Voluntary Accident and Voluntary Disability Insurance on Workers’ Compensation Claims Study” is based on a nationwide survey conducted in Nov. 2013 by Aflac and Lieberman Research Worldwide. Survey participants included a representative sample of 600 employers at small, medium and large U.S. companies. Small employers were defined as those with 3-99 employees. Medium employers were defined as those with 100-499 employees. Large employers were defined as those with 500 or more employees.
2 Significant declines are defined as reductions in workers' compensation claims of 50 to 74 percent; very significant declines are defined as reductions in workers' compensation claims of 75 percent or greater. Moderate declines are defined as reductions in claims of 25 to 49 percent.
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