Takeover sales accounted for about 38% of new voluntary sales premium in 2009, up from about 29% in 2008, according to Eastbridge Consulting Group Inc.
The percentage of voluntary market sales coming from takeovers – moves by insurers to replace similar plans issued by other carriers — has been increasing for several years now, says Gil Lowerre, president of Eastbridge, Avon, Conn.
Group benefits companies face the takeover issue more often than insurers that offer only individual voluntary benefits do, Eastbridge says.
