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Voluntary benefit trends we’re seeing

Employers 02.03.2022 2 MIN

The prevalence of voluntary benefits has steadily increased over the last decade and become a key component of total compensation packages to attract and retain top talent in a competitive job market.

Increases in voluntary benefit offerings

The COVID-19 pandemic has continued to elevate the need for many of these benefits to help employees protect themselves and their families against the unexpected and support overall well-being. As a result, we’ve seen double digit percentage increases in several of these benefits from 2020 to 2022:

  • Income protection benefits such as critical illness, accident and hospital indemnity insurance (30% increase)
  • Child and elder care assistance (26% increase)
  • Mental and behavioral health support (24% increase)
  • Pet insurance (22% increase)
  • Group legal plans (19% increase)
  • Identity theft protection (18% increase)
  • Funeral planning and survivor counseling (17% increase)*


* Through Ayco's SurvivorSupport® program, our advisors bring expertise and empathy to help employees or their surviving family members manage the financial implications of losing a loved one. Learn more about this unique benefit.



Source: Ayco Benefits & Compensation team. Data based on 310 Ayco corporate partners as of January 2022.


Offering a comprehensive financial wellness benefit reflects your company’s culture and shows your employees that you value them. Interested in empowering your employees to take control of their financial lives? Learn more about how Ayco can help.