AVON, CONNECTICUT, USA (July 14, 2010) – Voluntary critical illness sales almost doubled in 2009 as compared to 2008, according to Eastbridge�s annual U.S. Worksite Sales Report. In fact, the line was up almost 88 percent for the year. Total voluntary sales were $5.397 billion in 2009, up 3.3 percent over 2008.
Significant increases were also seen in other lines including long-term care, vision, accidental death and dismemberment (AD&D), and term life insurance. All these lines experienced double-digit sales growth. At the other end of the spectrum, dental insurance and long-term disability experienced double-digit decreases. The following chart shows the results for all lines of business for 2009.
|
Line of Business
|
Inc/Dec Over ‘08
|
| Critical Illness |
87.9%
|
| LTC |
66.8%
|
| Vision |
42.2%
|
| AD&D |
26.9%
|
| Term |
20.9%
|
| HI/Voluntary Medical |
7.7%*
|
| UL/WL |
-0.6%
|
| STD |
-2.7%
|
| Accident |
-3.0%
|
| Cancer |
-7.9%
|
| Dental |
-11.3%
|
| LTD |
-15.2%
|
* The 2008 sales number was revised downward by $32 million due to a restating of 2008 sales by several carriers.
The U.S. Worksite Sales Report is an annual report conducted by Eastbridge for the past eleven years. The 2009 report includes detailed data on the performance of 60 worksite marketing carriers, both group and individual, and represents the largest number of carriers included in any sales report for the industry.
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. http://eastbridge.com/
