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COVID-19 impacts voluntary sales

Without question, the COVID-19 pandemic effected many facets of the voluntary business in 2020, and sales were no exception.

By Nick Rockwell and Erin Marino | May 24, 2021 at 11:54 AM

Without question, the COVID-19 pandemic effected many facets of the voluntary business in 2020, and sales were no exception. According to our annual U.S. Voluntary/Worksite Sales Report, new business annualized premium (voluntary sales) decreased by 15.5% with 2020 sales totaling $7.463 billion. This is only the second instance of a decrease in voluntary sales over the 24 years Eastbridge has been tracking this data. The following graph shows the industry’s sales since 1997.

In terms of market share, the top five carriers for 2020 were the same as in 2019. The carriers include:

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