Critical Illness Continues to Top the List of Voluntary Growth Products According to Eastbridge Study
AVON, CONNECTICUT, USA (July 3, 2012)
Voluntary critical illness was once again selected most often by carriers as the industry’s top growth product over the next two to three years as published in a recent Eastbridge report. Accident and UL/WL insurance were tied for second on the industry growth product list. The Frontline Report, Worksite/Voluntary Product Trends 2012, is published every other year by Eastbridge Consulting Group, Inc.
“Critical illness has been on the industry growth list every year for many years,” says Gil Lowerre, president of Eastbridge. “This year, however, a much larger percentage (78%) selected critical illness as one of the top growth products.” In 2011, critical illness sales were up 20 percent, for a total of $243 million in sales. Rounding out the top five growth products for the industry after critical illness, accident, and UL/WL were supplemental medical/gap coverage and hospital indemnity insurance.
“Critical illness, accident, and UL/WL also ranked at the top of the carriers’ lists when asked what product would be growth products over the next few years for their own company.” adds Bonnie Brazzell, vice president at Eastbridge. “Over the past few years, we have seen a great deal of similarity with the products carriers see as growth products for the overall industry and their company,” adds Brazzell.
The Worksite/Voluntary Product Trends 2012 Frontline Report is conducted every two years by Eastbridge. Information Partner Companies as well as survey participants receive the Frontline Report free of charge.
Eastbridge Consulting Group, Inc. is the leading marketing advisory firm serving the worksite/voluntary industry.