Thanks largely to surging voluntary health products, second quarter 2007 worksite benefits sales rose 12% over the previous quarter, a new survey by LIMRA International finds.
Voluntary life sales improved in the quarter but show no signs of building a recovery as impressive as did health plans, reports Ron Neyer, LIMRA worksite research senior analyst and author of the U.S. Worksite Sales Second Quarter Review by LIMRA, Windsor, Conn.
Results for 32 worksite carriers showed first half voluntary worksite life insurance sales are up slightly, while voluntary health plan premiums grew 15% in the period.
Term sales continue to outpace permanent life insurance and accident policies, and long term disability and dental premiums continue to show strong improvement. Short-term disability products also show double-digit growth. Medical products also outpaced 2006 sales despite a slide in the first quarter of 2007, says LIMRA.