Critical illness insurance accounted for a far higher percentage of total new 2005 premiums at engineering firms than at legal services firms.

Researchers at UnumProvident Corp., Chattanooga, Tenn., have included statistics supporting that conclusion in a new buyers study supplement based on internal UnumProvident sales data.

The study covers sales data for products such as group long-term disability insurance, group short-term disability insurance and group life insurance, along with descriptions of the product options prevalent in each industry.

The industries included are education, engineering, financial services, health services and research, information services, legal services, management consulting and marketing, manufacturing, and wholesale and retail trade.

In tables describing supplemental insurance offerings, for example, life insurance and disability insurance tend to be popular in most of the industries included, but critical illness insurance appears to be establishing itself as a mainstream product.

The product accounted for only 7% of total new premiums at legal services firms in 2005, but it accounted for 10% to 18% of the totals for most of the other industries reviewed. Critical illness insurance accounted for 20% of new premiums at manufacturing firms and 29% at engineering firms.

Similarly, funding arrangements for group long-term disability insurance vary widely from industry to industry.

Only 43% of UnumProvident’s employer clients in wholesale and retail trade pay all premiums for employees’ group LTD coverage, but 59% of the health services and research employers pay the whole bill for LTD coverage.