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Heartfelt Benefits: The Emotional Impact of Group Whole Life Insurance

Phyllis Falotico headshot

By Phyllis Falotico

Head of Worksite Marketing and true believer that good financial health and well-being for today's working Americans begin with their workplace benefits.

Posted on: February 14, 2024

In the realm of voluntary benefits, the conversation often revolves around financial security, stability, and long-term planning. While these aspects are undoubtedly crucial, there’s an emotional dimension to employee well-being that may go beyond the monetary value. In this blog post, I will explore the heartfelt benefits of Group Whole Life Insurance (GWL) and how it can make a significant emotional impact on the overall wellness of working Americans. (And, I couldn’t think of a better time than the month that we celebrate Valentine’s Day.)

Understanding the Emotional Landscape

Employee well-being is a multifaceted concept that encompasses physical health, mental health, and financial wellness. Beyond the tangible benefits of GWL, there lies an emotional connection between the offerings provided by employers and the overall satisfaction, loyalty, and happiness it delivers to working Americans.

Before we explore these emotional connections, I want to answer a question you may be asking yourself: “Why should this matter to benefits producers?” Great question … and here are some reasons:

  1. Differentiate yourself in a competitive market: Emphasizing the emotional impact can create a unique value proposition that resonates with clients on a deeper level.
  2. Build trust and credibility: Clients are more likely to engage with producers who demonstrate empathy and convey an understanding of the emotional aspects of financial well-being.
  3. Help increase employee participation: By recognizing both the emotional and practical value of voluntary benefits, you can advocate for enrollment communications that speak to both — helping them better resonate with employees and inspiring them to act.

Benefits producers who can tap into these three points can enhance the appeal of their services. So now that I hopefully have captured your attention, let’s get into the emotional connections for employees.

Security and Peace of Mind

At the core of the emotional impact of GWL is the sense of security it brings to employees. Knowing that there is a financial “safety net” to help their loved ones in case of the unexpected can provide a profound sense of peace of mind. This security extends beyond the workplace, influencing the overall emotional state of working Americans.

A Long-term Commitment and Loyalty

Many employees may recognize and appreciate when their workplace prioritizes their well-being beyond immediate concerns and the work that they do. This fosters a sense of loyalty and engagement that can contribute to a positive emotional connection with the company where they are employed.

Financial Empowerment and Freedom

The emotional liberation that may be associated with GWL can stem from the knowledge that they have the means to help navigate life’s challenges, pursue their dreams, and build a legacy for loved ones — plus living benefits that they can tap into throughout their lifetime.*

Expressions of Compassion and Care

In a world where working Americans desire to feel valued, acts of compassion and care can be powerful differentiators. We believe GWL goes beyond the transactional nature and becomes a genuine expression of care for their financial well-being.

The tricky part is how do you put these emotional connections into practice? Here are a few ideas on how to apply what we know into your client engagement or offer ideas for company administrators to incorporate them into employee communications.

  1. Storytelling and case studies: Real-life anecdotes are hard to capture, so encourage your clients to collect and share employee satisfaction and the emotional benefits of GWL. Authentic feedback from peers carry significant weight and contribute to the emotional appeal. Personal narratives resonate with clients and help them envision the tangible benefits for their employees.
  2. Emphasize security and peace of mind: Highlight the emotional security that GWL can provide. But it doesn’t stop with the comfort of knowing loved ones are financially protected. As mentioned earlier, reinforce the living benefits* too — and GWL has several. (If you are interested to learn more, visit Worksite Stronger.)
  3. Tailor benefits to employee aspirations: Work with your clients to tailor benefits packages that align with their workforce. Customization enhances the emotional connection by showing that the benefits are designed for their life situation and lifestyle.
  4. Connect with clients on a personal level: Get to know the company culture and values and demonstrate that GWL aligns with the company’s commitment to employee well-being.
  5. Provide educational resources that reinforce the emotional connection: Leverage employee enrollment and communication materials that not only explain the financial aspects of GWL, but also delve into how GWL may support their emotional well-being.
  6. Acknowledge life milestones: Whether it’s starting a family, buying a home, or planning for retirement, GWL can be positioned as a valuable companion in each stage of life.
  7. Emphasize a long-term commitment with ongoing communications: Voluntary benefits are not a “setting and forgetting” activity. Stay in touch with your clients to give them reasons to regularly communicate with their employees. Consider any of the previous six actions as reasons to share those messages.

Hopefully, I have left you with a great deal of food for thought. By incorporating these strategies, you can weave in an emotional narrative around voluntary benefits and GWL, making it more compelling and resonate with both clients and employees alike. Go beyond the transactional aspects of selling. Establish lasting relationships founded on trust, empathy, and a deep understanding of the financial and emotional well-being of working Americans.

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*Access to cash values through borrowing or partial surrenders will reduce the certificate’s cash value and death benefit, increase the chance the certificate will lapse, and may result in a tax liability if the certificate terminates before the death of the insured.

The products and/or certain features may not be available in all states. State variations will apply.

Group Whole Life Insurance (GPWL), (policy/certificate forms MM-GPWL-2014 and MM-GCWL-2014, and MM-GPWL-2014(NC) and MM-GCWL-2014 (NC) in North Carolina), is level-premium, participating permanent life insurance. The GPWL policy and GCWL certificates are issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.