Mike Wozny backed the latest Disability Insurance Awareness Month campaign earlier this month by giving ThinkAdvisor Life/Health an interview about the state of the U.S. group disability insurance market.
Wozny is the president of Anthem Life Insurance Co., a unit of Indianapolis-based Anthem Inc., one of the biggest health insurers in the United States.
Anthem Life is a major provider of personal protection products in its own right. It ended the first quarter with 4.7 million people in its group life insurance and disability plans. Many of Anthem’s life and disability plan sponsors use its health coverage. The company let unprofitable fully insured small-group plans fall of its books. That led to a 0.3% drop in life and disability enrollment.
Wozny said that, overall, in spite of the slight drop in small-group plan enrollment, the market for group life and group disability has been pretty good.
The unemployment is lower and salaries are higher, Wozny said.
Here are three more views Wozny shared about the disability market.
1. The new focus on supplemental health insurance benefits of all kinds probably helps disability insurance sales.