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March 30, 2012 at 09:43 AM
Gen Re, LIMRA and the National Association for Critical Illness Insurance (NACII) have persuaded a total of 41 insurers to report 2011 U.S. critical illness insurance sale results.
The organizations are not sure how much of the U.S. critical illness insurance market the totals reflect, according to Janet Buzil, president of NACII, and Barry Eagle, a Gen Re vice president.
But the results available suggest that the participating carriers generated at least $227 million from providing critical illness protection for 734,230 people, according to a summary of the results that Gen Re, Stamford, Conn., posted on the Gen Re website.
The researchers found that 13% of the premiums from new critical illness coverage sales came from sales to individuals, 14% from sales of true group plans, and 72% from sales to individual workers through individual worksite sales programs or through voluntary, employee-paid group coverage programs.
