Last month in our first of a three-part series, we reviewed the voluntary industry's overallsales for 2015, which were $7.138 billion, up 3.6percent over 2014. This column takes a closer look at these resultsby product line and platform.
Life insurance once again claimed the largest share of totalvoluntary sales at $1.959billion, representing 27 percent of the total market. This was anincrease of 4.4 percent over 2014. Term accounted for 79 percent ofthe total life new business annualized premium (NBAP), with salesfor the line up almost 9 percent. UL/WL sales were down almost 10percent.
Total disability sales were $1.37 billion in 2015 and accountedfor just under 20 percent of voluntary NBAP. Short-term disabilitysales still represent the majority of sales at 67 percent of thedisability totals. STD sales were up 2 percent compared to 2014,while LTD sales increased just over three percent.
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