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Analysis

Growth continues for voluntary sales

The industry has grown at a compound annual growth rate of 5 percent over the last 10 years.

By Bonnie Brazzell and Nick Rockwell | June 20, 2019 at 10:11 AM
Growth chart In-force premium increased 4.8 percent in 2018 to an estimated $44.3 billion. Photo: Shutterstock)

According to our annual U.S. Voluntary/Worksite Sales Report, new business annualized premium (voluntary sales) increased at a rate of 4.5 percent in 2018, while total sales for the year were $8.513 billion. The first graph below shows the industry’s sales since 1997.

The industry has grown at a compound annual growth rate of 5 percent over the last 10 years, even with the decrease in 2010. The graph below shows the growth curve over the past 10 years.

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