NU Online News Service, July 24, 2003, 4:32 p.m. EDT – Sales of disability products in the workplace exceeded worksite sales of life insurance products for the first time in 2002, according to a study released by Eastbridge Consulting Group Inc., Avon, Conn.
Eastbridge researchers based the results on survey responses from 58 worksite marketing carriers.
Disability insurance accounted for 24% of worksite product sales in 2002, while life insurance accounted for 22%, Eastbridge says.
Sales revenue increased 35% for disability insurance, 33% for hospital indemnity and medical supplement plans and 15% for life insurance.
The increase in sales for long term care insurance slowed to 12%, from 77% in 2001, Eastbridge says.
Eastbridge also collected information about the actual dollar value of the worksite products sold, but that information is available only to survey participants and purchasers, the company says.