{"id":14985,"date":"2019-05-20T15:13:51","date_gmt":"2019-05-20T19:13:51","guid":{"rendered":"https:\/\/insurancenewsnet.com\/?post_type=innarticle&amp;p=4085661"},"modified":"2019-05-20T15:13:51","modified_gmt":"2019-05-20T19:13:51","slug":"total-u-s-voluntary-market-grows-3-in-2018-limra-reports","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/05\/20\/total-u-s-voluntary-market-grows-3-in-2018-limra-reports\/","title":{"rendered":"Total U.S. Voluntary Market Grows 3% in 2018, LIMRA Reports"},"content":{"rendered":"<br \/>\n<figure class=\"featured-image left pull-box small pull-box hide-md hide-sm\">\n<img decoding=\"async\" loading=\"lazy\" width=\"751\" height=\"560\" src=\"https:\/\/insurancenewsnet.com\/wp-content\/uploads\/2019\/04\/AdobeStock_138943223-751x560.jpeg\" class=\"attachment-medium-thumb-post size-medium-thumb-post wp-post-image\" alt><figcaption class=\"text-left\">Employees benefit with more voluntary benefits, analysts say.<\/figcaption><\/figure>\n<div class=\"article-content\">\n<div itemscope itemtype=\"http:\/\/schema.org\/Article\"> <span><\/p>\n<p> <span><\/p>\n<p><\/span> <\/p>\n<p><\/span> <span><br \/>\n <span><\/p>\n<p><\/span><br \/>\n<\/span> <\/p>\n<p> <span><\/p>\n<p><\/span> <span><\/p>\n<p><\/span> <\/p>\n<div>\n<p>New annualized premium for voluntary insurance products totaled $7.2 billion in 2018, a 3% increase from 2017 sales results, according to LIMRA\u2019s U.S. Worksite\/Voluntary Sales Study.<\/p>\n<p>LIMRA defines voluntary benefits as insurance products available at the workplace that are 100% funded by the employees. According to LIMRA research, since 2010 the percent of employers offering voluntary benefits as part of their overall employee benefits package has increased 11 percent.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-medium wp-image-4085671\" src=\"https:\/\/insurancenewsnet.com\/wp-content\/uploads\/2019\/05\/limra-900x510.jpg\" alt width=\"900\" height=\"510\"><\/p>\n<p>\u201cWith five different generations in the workforce today, a one-size-fits-all approach to benefits is no longer a viable option,\u201d said Anita Potter, assistant vice president and director Workplace Benefits Research, LIMRA. \u201cVoluntary benefits provide employers with a solution that allows them to meet the increasingly diverse needs of their employees and their families.\u201d<\/p>\n<p>In the fourth quarter 2018, new voluntary life insurance premium jumped 8%, compared with prior year. For the year, voluntary life insurance products rose 3%, with substantial increases in accidental death &amp; dismemberment and whole life product sales offsetting declines in voluntary term, UL and VUL sales.<\/p>\n<p>New voluntary health insurance premium fell 3% in the fourth quarter but ended the year up 3%, compared with prior year results. For the year, growth in critical illness, accidental, short-term disability, vision and other supplemental health products drove the overall annual increase in voluntary health product sales.<\/p>\n<p>\u201cCritical illness continues to be a bright spot for sales, with an 8% increase over last year,\u201d Potter noted. \u201cHowever, growth of this product has been slowing from prior years, when we saw consistent double-digit gains. In contrast, voluntary whole life sales appear to be accelerating.\u201d<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p> <a href=\"https:\/\/insurancenewsnet.com\/innarticle\/total-u-s-voluntary-market-grows-3-in-2018-limra-reports\">Read the original article at insurancenewsnet.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employees benefit with more voluntary benefits, analysts say. New annualized premium for voluntary insurance products totaled $7.2 billion in 2018, a 3% increase from 2017 sales results, according to LIMRA\u2019s U.S. Worksite\/Voluntary Sales Study.&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14985"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=14985"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14985\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=14985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=14985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=14985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}