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JHA: Individual DI Sales Increase

By Staff Writer

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Revenue from new individual disability insurance sales increased 1% in 2008, to $344 million.

Researchers at JHA, Portland, Maine, a research, consulting and reinsurance services unit of General Re Life Corp., Stamford, Conn., have reported those figures in a summary of results from a survey of 15 U.S. individual DI carriers.

The survey includes non-cancelable, guaranteed renewable and buy-sell transactions.

Revenue from sales of new coverage were up 1.4% for non-can policies and flat for guaranteed-renewable policies, JHA says.

The number of policies in force stayed the same, but in-force policy revenue increased 3%, to $4.2 billion.

The total amount of coverage in force increased 2% for non-can policies and 1% for guaranteed-renewable policies.