Voluntary Lapse Rates Spotlight™ Report

Cost: $3,000; published 2021

Just as monitoring, comparing and evaluating voluntary sales results is important for carriers, so is doing so for retention and lapse rates. The purpose of the Voluntary Lapse Rates Spotlight™ Report is to compile data on what information carriers currently track related to voluntary lapse rates, including both account-level and employee-level capabilities and measurement. This report covers:

• Account-level lapse rates by year
• Account-level lapse rates by group/case size
• Reasons why accounts lapse and how lapse results compare to pricing expectations
• Employee-level lapse rates by product (group and individual)
• Five-year lapse rates for accident, critical illness and hospital indemnity products
• Trends in account-level and employee-level lapses
• Future concerns and anticipated changes to improve lapse rates

Although Eastbridge previously conducted two brief Frontline™ studies on this topic, this study seeks to provide more detail and analysis than previous surveys to assist carriers with more robust benchmarking efforts.