Latest Eastbridge report looks at voluntary vision products

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AVON, CONNECTICUT, USA (March 4, 2009) – Voluntary vision product sales have been growing at a significant rate over the past two or three years as more employers move to employee-pay-all plans and those not offering employer-funded vision coverage see that voluntary vision is a desired and reasonably priced benefit. In 2007, the product line grew at over 500% and accounted for almost three percent of all voluntary sales-more than critical illness or long-term care.

Eastbridge Consulting Group�s Voluntary Vision Products 2009 report looks at this fast-growing line from the standpoint of carriers and vision companies active in the voluntary vision market. For each company, the report details product features, provider networks, underwriting/eligibility, costs, commissions, and enrollment methodology. It also gives the companies� predictions for the future of voluntary vision insurance.

Here�s a preview of some of the study findings:

  • The biggest competitors in the market still tend to be the specialty providers.
  • Most companies sell a group product on an insured basis.
  • The employer most often defines the plan benefits (including frequencies, co-pays, and coverage levels).
  • About half of the companies sell their voluntary vision plan as a standalone product while the other half package it with some other product, typically dental coverage.

About Eastbridge Consulting Group, Inc.

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.