Texas and California led the country in voluntary sales for a second year in a row, according to Eastbridge Consulting Group’s sixth annual U.S. State ESI and EPI Data report. Florida, New York and Illinois rounded out the top five. These results are similar to those in the 2015 report with the exception of Illinois, which replaced Georgia in this year’s survey.
“The top 15 states, which accounted for 78% of total voluntary sales in 2015, saw some movement in the rankings,” says Gil Lowerre, Eastbridge president. “Besides Georgia moving to the sixth spot, Indiana moved to fifteenth. Massachusetts was added back to the list this year (in 12th position), after not making the list in last year’s survey (based on 2014 sales). Indiana and Massachusetts replaced Louisiana and Alabama from the last survey.”
In terms of those states with the greatest penetration of voluntary sales (sales per employed population), the list of top states is much different compared to the list based solely on voluntary sales. “The states with the highest sales penetration/coverage of voluntary products—or Eastbridge Sales Index (ESI)—based on 2015 sales were Arkansas, Delaware, Tennessee, Louisiana, and Georgia,” says Eastbridge Vice President, Bonnie Brazzell.” These are the same top ESI states as in last year’s report, although the order did change.
“A state with high voluntary sales may still have a low ESI number,” adds Brazzell. “New York and California are prime examples as they have high voluntary sales but lower ESIs, indicating that there is untapped potential in those states.”
The U.S. State ESI and EPI Data report is an adjunct to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report and includes sales and inforce data by state, as reported by the survey participants. The report is free but available only to survey participants. For more information on becoming a participant in the next annual survey, contact the company at email@example.com or call (860) 676-9633.