Lincoln National Corporation ( LNC Quick Quote LNC - Free Report) introduced a website, “Mental well-being in the workplace,” as a means to add strength to the insurer’s financial wellness program. The new page comprises resources related to benefits, wellness programs and accommodations, which can be of great use to Workplace Solutions clients.
The newly launched website delves in detail about the grave and minor mental health issues often encountered in the workplace and their subsequent impact on employee productivity and spirit. The web page also aims to offer a comfortable ambiance in which employees feel free to seek assistance for mental health issues.
The latest move reinforces Lincoln National’s efforts to add more components within the workplace benefits offered to employees, thereby increasing the lucrativeness and boosting the sales of such product offerings. Also, extending mental health resources as part of the financial wellness program seems to be time opportune considering the growing incidence of mental health issues among Americans.
Lincoln National resorts to investments similar to the latest one and even collaborates with nationwide employers to solidify its financial wellness program. The main aim of the program is to enhance the financial health and management skills of employees revolving around investing, saving and budgeting. A stable financial future awaits employees who are able to track their financial priorities.
Strain regarding finances has been a vital factor contributing to the deterioration of the physical and mental health of U.S. employees. According to a LNC research, 93% of surveyed employees reported being stressed and 32% of them blamed the stress for not enabling them to focus on their health and welfare.
Another Lincoln National research cited that 69% of employees utilizing financial wellness resources report a declining stress level regarding finances. This substantiates the timeliness of the recent web page launch.
Last year, the insurer unveiled a financial wellness marketplace that is integrated within the financial wellness tool of LNC – WellnessPATH. The marketplace, developed in collaboration with the well-known student debt management platform Candidly, is meant to provide student debt solutions to guide Americans in bringing down student loan debt.
Shares of Lincoln National have declined 31.2% year to date compared with the
industry’s 3.3% fall. LNC currently has a Zacks Rank #5 (Strong Sell).
Image Source: Zacks Investment Research Stocks to Consider
Some better-ranked stocks in the insurance space are
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AXIS Capital’s earnings surpassed estimates in three of the trailing four quarters and missed the mark once, the average surprise being 6.50%. The Zacks Consensus Estimate for AXS’s 2023 earnings suggests an improvement of 33.2%, while the same for revenues suggests growth of 7.6% from the respective year-ago reported figures. The consensus mark for AXS’s 2023 earnings has moved up 4.9% in the past 30 days.
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