AVON, CONNECTICUT, USA (December 15, 2005)-Voluntary life insurance is historically the most offered voluntary product. And according to recent Eastbridge research, it�s the most frequently owned product by employees today. Carriers that are serious about capturing distribution and worksite market share must have at least one life product in their portfolio since almost all producers sell life insurance-many times as their lead product.
Looking ahead, both carriers and producers who specialize in worksite expect life insurance, specifically universal life, to continue to be one of their primary growth products over the next two to three years and one of their top selling products. But what exactly do these �best selling� products look like today, and perhaps more importantly, what do key carriers in the industry expect the market to look like in the near future?
The objective of Eastbridge Consulting Group�s last spotlight report, Voluntary Universal and Whole Life Products (2005), is to help carriers better understand the competitive landscape around universal and whole life plans sold at the worksite. Specifically, Eastbridge gathered data from 17 different carriers active in the market. For each company, we reported (as it relates to UL/WL) on:
The worksite focus of the company
Distribution strategies and channels
Basis of competition
Product features, including product type, minimum/maximum face amount, available riders, etc.
Underwriting guidelines/eligibility parameters
Pricing and cash values
With this data, carriers can evaluate their own universal and whole life products and strategies to determine if changes are needed to make the company�s product more competitive.
The report is available for purchase for $2,500. Click here for more information about the report, including a table of contents. Interested parties can email the company at [email protected] or call (860) 676-9633.
Eastbridge Consulting Group, Inc., is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.