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April 24, 2006 at 07:39 AM
Combined short- and long-term group disability inforce premium grew about 6% in 2005, to $11.2 billion, a new report says.
Companies participating in a study by JHA, Portland, Maine, report a 7% increase in LTD inforce premium and a 4% increase in STD inforce premium. The results were similar to those reported for last year, according to JHA, a research and consulting unit of the Berkshire Hathaway subsidiary, General Re Life Corporation.
The number of employers offering disability coverage rose slightly at 4% for STD and 3% for LTD. The total number of insured employees rose by 1% for STD and 4% for LTD, JHA reports.
Survey results also indicate that 2005 U.S. group disability sales (STD and LTD) increased by 3%, totaling over $1.9 billion in new annualized premium.
