Voluntary benefits refer to additional perks and insurance options that employers offer to their employees. Unlike core benefits like health insurance or retirement plans, voluntary benefits are typically employee-funded, meaning that employees choose to participate and pay for these benefits through payroll deductions. These offerings enhance an employee's compensation package by providing a range of choices to address specific personal needs.
Supplemental life insurance, pet insurance, legal assistance programs, or additional disability coverage. Employees can select and customize these benefits based on their individual preferences and circumstances.