The group disability insurance industry as a whole collected more premiums in 2016 than the year before, according to Milliman Inc.'s 2016 U.S. Group Disability Market Survey.
The combined short-term disability and long-term disability in-force premium was $14.4 billion in 2016 among the 20 companies who contributed to the survey, versus $13.6 billion in 2015. Milliman estimates their total premium represents 85 percent to 90 percent of the group disability insurance market in terms of in-force business. Short-term disability in-force premium increased by 6.4 percent, and long-term disability in-force premium increased by 5.1 percent.
The combined short-term disability and long-term disability premium from new sales was $2.3 billion in 2016, versus $2 billion in 2015. Short-term disability from new sales increased by 12 percent, and long-term disability premium from new sales increased by 14.9 percent.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
