Press Release Archives

• 2006

• 2005

New Eastbridge study looks at voluntary LTD products

AVON, CONNECTICUT, USA (October 3, 2007)

Voluntary disability has always been an important part of worksite sales. But, historically, short-term disability sales or “mid-term” plans (durations of two years or less) dominated the market. While short-term products still account for most (74 percent) of voluntary disability sales, long-term disability sales are growing at a much faster rate.

Eastbridge Consulting Group’s latest report, Voluntary Long-Term Disability Insurance, examines the current state of the voluntary long-term disability (VLTD) market and identifies the market’s top players and competitors. Some of the key findings of the study include:

• Employee choice as it relates to VLTD has increased.
• There is relatively little differentiation among voluntary long-term disability products.
• A few carriers are beginning to offer portability options with their VLTD plans.
• A few carriers are moving to published or “set” rates on their VLTD plans.

The report includes data representing the viewpoint of the employer, employee, and broker as well as the carrier. It also details the VLTD products of 14 carriers including:

• Product features, including platform, product type, minimum/maximum benefits, durations, definition of disability, exclusions, etc.
• Underwriting/eligibility parameters
• Cost structure
• Commissions

The report is designed to help carriers better understand the VLTD insurance market, how their product “fits” relative to the competition, and whether any changes are needed.

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.