The states that are the leaders in total voluntary sales volumes look very different from the top states by sales penetration (voluntary sales per employed population), according to Eastbridge Consulting Group’s ninth annual U.S. State ESI and EPI Data report. However, sales volume only tells part of the story...
This report examines the voluntary/worksite marketplace; specifically, annual sales, inforce premium, leading players, products trends, and distribution channels. In addition, the report provides a competitive analysis on 12 of the top voluntary/worksite marketing players.
RECENT EASTBRIDGE research has found that while just over half of carriers offer a universal life/whole life (UL/WL) product today, almost a quarter of carriers see UL/WL as a growth product for the industry over the next few years. In addition, UL/WL was the top product (tied with hospital indemnity) listed as most likely to be added to carriers’ voluntary portfolios in the next two years.
EVERY BROKER HAS his or her own set of features that top the list in voluntary carrier selection. For some, it’s brand, ratings or perhaps familiarity, while for others it might be the price and benefits found in specific products. For many, they simply expect ease in working through a carrier with an array of products and services under one roof.