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July 22, 2008 at 12:17 PM
Voluntary disability insurance outsold voluntary life in 2007.
Researchers at Eastbridge Consulting Group L.L.C., Avon, Conn., have published that finding in a U.S. worksite market review.
Short-term and long-term disability policies accounted for a combined total of about $1.1 billion in 2007 voluntary sales, or about 23% of all 2007 voluntary sales, while life insurance accounted for 19% of total sales, Eastbridge reports.
Voluntary disability premiums were about 3% higher than they were in 2006, and they exceeded voluntary life premiums for the second straight year.
Short-term disability sales accounted for 72% of the voluntary disability total, Eastbridge says.
Voluntary dental sales were up about 17%, and voluntary LTD sales were up 12%.
