Carriers surveyed in Eastbridge’s Voluntary Whole and Universal Life Products Spotlight™ Report indicated about an equal number of increases and decreases/flat sales for their universal life plans compared to mostly increases for the whole life products. However, with several of the whole and universal life products being new to the market in 2013 or 2014, the resulting percentage increases were higher than normal and/or it was too early to determine any trends for the product. According to Eastbridge’s U.S. Voluntary/Worksite Sales Report, total UL/WL sales were $445.6 million and accounted for 6.5 percent of all voluntary sales in 2014.
The purpose of the Voluntary Whole and Universal Life Products report is to help carriers better understand the universal and whole life voluntary/worksite marketplace by providing specific information regarding product features, underwriting, pricing and cash value, commissions, and product challenges/future trends. Following are a few of the key findings from the study:
The cost of the report is $3,000. To purchase, call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.