With the exception of pensions, over a third of employers never communicate with their staff about core financial employee benefits, and another quarter do so less than once a year.
Group protection specialist Unum has launched an application - ‘The Perkulator' - which enables people to calculate how much their benefits package is worth, based on simple information they provide.
A survey of financial directors has found over a third of businesses will continue to increase their budgets for employee benefits.
Unum has urged advisers to join it in targeting the ‘underserved' SME market to grow their income protection (IP) business.
Unum is to leave the individual protection market from 2 March.
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Unum has completed the roll-out of its fully electronic income protection (IP) application and underwriting process that means the vast majority of cases will be processed on the spot.
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