Every year at this time, we write a series of articles on thevoluntary market sales results for the prior year. This article isthe first of three on this subject.

According to our annual U.S. Voluntary/Worksite Sales Report,new business annualized premium (voluntary sales) was $6.89 billionin 2014, up almost four percent over 2013 sales. The percent growthfor our industry was just slightly below the estimated 4.3 percentin 2013. The following graph shows the industry's sales since1997.

For 2014, the top 15 carriers continued to account for almost 80percent of total voluntary sales. These companies had an averageincrease of 4.3 percent in 2014, just slightly higher than theindustry increase. The individual results for the top 15 were morevaried this year, with five showing decreases and 10 withincreases. Among those with an increase, six companies haddouble-digit increases.

Takeovers (i.e., business that moves from one voluntary carrierto another) continue to grow, though at a slower pace than in 2013.Takeovers accounted for 51 percent of total sales, up from 50percent in 2013. The highest takeovers continue to occur in thegroup term life and dental lines.

Inforce premium also was up. The total inforce number forvoluntary is estimated at $37.3 billion, up almost 5 percent over2013.

In our next column, we'll review the results by product line andproduct platform.

The annual U.S. Voluntary/Worksite Sales Report is theindustry's most comprehensive and reliable source of data onvoluntary/worksite sales and inforce premium. This year's studyincludes data from 1997 through 2014 and detailed results for over60 carriers. The report is available only to those carriersparticipating in the survey. For more information aboutparticipating in next year's survey, contact us [email protected].