Better Voluntary Employee Benefits Can Help Recruiting in Finance

By: InsuranceWholesaler
The D B L Center Ltd
The D B L Center Ltd
MELVILLE, N.Y. - Dec. 21, 2021 - PRLog -- College graduates with finance degrees are commanding salaries of $100,000+ on Wall Street. Businesses are forced to keep up with these demands to attract talent in a highly competitive field. But New York insurance brokers can help alleviate recruiting and retention challenges in the financial sector through better voluntary employee benefits and enriched New York disability insurance. The DBL Center, a wholesale general insurance agency, can help.

Employees Want More Than Money

Millennials and GenZ face financial concerns about saving for retirement, buying a house, and paying off student loan debt. The Investopedia Affluent Millennial Survey revealed 46% of millennials with a median income of $132,000 say they aren't saving enough money.

Voluntary employee benefits and enriched DBL coverage can help fill a void by giving workers in these demanding fields greater financial security and peace of mind.

New York Disability Insurance and Voluntary Employee Benefits Provide Peace-of-Mind

Even finance workers who have a rainy-day savings fund can benefit from critical illness and accident coverage. These lump-sum benefits can be used for living expenses, hospital bills, and more if a worker is unable to work due to prolonged illness or an accident.

New York disability insurance is not enough for most finance workers to live on, since the benefits cap out at $170 per week for 26 weeks. Enriched DBL can increase the benefit to as much as $850 per week, enabling workers to leave more of their savings in high-yield investments. Coupled with voluntary employee benefits, this safety net can provide peace of mind that can make a position more enticing to workers in finance.

"Based on the Rule of 72, which most financial workers understand, it takes 7.2 years to double income from investments at a rate of 10%. When employees have savings, it's wise to keep it parked," says DBL Center President Michael Cohen. "It's up to insurance brokers to share with their clients in the financial sector the vast advantages of better voluntary employee benefits and enriched DBL. Bigger paychecks are no longer enough to keep workers satisfied."

About The DBL Center Ltd.

With 40+ years in the insurance industry, The DBL Center services 100,000 insured corporations through 4,000 brokers across 15 states as a wholesale insurance general agency. Visit, call 800.325.2777, or connect with us on LinkedIn.


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