Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance > Term Insurance

Hewitt: New Group Disability Sales Up 5%

Your article was successfully shared with the contacts you provided.

NU Online News Service, March 28, 1:49 p.m. – John Hewitt & Associates Inc., Portland, Maine, a disability consulting firm, says revenue from group short-term and long-term disability insurance policies that were already in place increased 8% in 2001, to $9.1 billion.

But revenue from new group disability policy sales increased only 5%, to $1.7 billion.

Revenue from sales of new short-term disability policies and from existing short-term disability policies grew 11%.

In the long-term disability market, in-force revenue grew only 7%, and sales puttered along at 2%.

John Hewitt researchers say group sales growth may have softened because of a shift in the way insurers sell disability coverage for workers.

Instead of focusing mainly on group sales, to employers, insurers have been working to sell more individual coverage at the worksite, the researchers say.

John Hewitt based the figures on a survey of 39 insurers that account for more than 95% of U.S. group disability premiums.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.