Disability income insurance carriers reported a 2% increase in total in-force premiums for non-cancelable and guaranteed renewable policies in 2011, according to a new report.
Gen Re, South Portland, Me., released this finding in a summary of results from its 2011 U.S. Individual Disability Income Market Survey. The annual industry benchmark survey covers non-cancelable (Non-Can) and guaranteed renewable (GR) in-force and sales premium results for 2011. Seventeen individual disability income carriers participated in the survey.
Non-can and GR in-force premium results increased to more than $4.5 billion, non-can accounting for $4 billion of the total and GR an additional $562 million, the report says. The total number of in-force policies declined (-1%) in 2011 with non-can falling -0.8% and GR dipping -1.8%.