Group Term Life Protected 2% More People in 2019: Gen Re

U.S. group term life insurance issuers protected more people against the risk of death in 2019, and they also increased revenue.

Heidi Alpren, an executive at Gen Re, has provided a look at U.S. group term life market performance in a summary of results from the company’s latest group life issuer survey.

The company received data from 29 group term life issuers.

Resources

• A summary of the Gen Re group term life survey report is available here.
• An article about an earlier Gen Re group term life survey report is available here.

The number of people covered by newly sold policies increased 5% between 2018 and 2019. Premiums from new policy sales also increased 5%, to $2.75 billion.

Covered lives and premiums also rose in sync for in-force group life coverage. The number of people covered by in-force policies increased 2%, and premiums from in-force coverage also increased 2%, to $27 billion.