Press Release Archives
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Eastbridge
study finds strong growth in
voluntary disability and voluntary medical lines
AVON,
CONNECTICUT, USA (July
11,
2007)
According
to the 2006 U.S. Worksite Sales Study, short-term
disability and hospital income/voluntary medical products
had the highest percentage of growth in sales in 2006.
Total sales for both products were approximately $818 million
and $739 million respectively.
Disability sales, as an aggregate,
moved ahead of life insurance sales last year (in terms of market
share), with a 25 percent increase over 2005. Short-term disability
sales accounted for the majority of the disability totals (74
percent), but the long-term disability line grew more than any
other business line—54 percent from 2005 to 2006. Short-term
disability sales grew at 17 percent for the year.
The hospital income/voluntary medical line also
grew at a higher than average rate last year. Total sales for
the line were about $739 million in 2006 compared to $673 million
in 2006, a growth rate of just over 12 percent. These numbers
are strong indicators of employee interest in products that help
cover rising medical costs.
The U.S. Worksite Sales Study is
an annual report conducted by Eastbridge for the past seven years.
The most recent report (2006) includes detailed data on the performance
of 61 worksite marketing carriers, both group and individual,
and represents the largest number of carriers included in any
sales report for the industry. The report is only available to
participants. For more information, contact Eastbridge at info@eastbridge or
call (860) 676-9633.
Eastbridge
Consulting Group, Inc. is a marketing advisory firm serving
insurance and financial services organizations in the United
States and Canada.
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