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Face mask on open book Eventually, we will move past the pandemic and enter a “Wild West” scenario due to the hit to the industry’s in-force book of business.

In the first month of the COVID-19 outbreak, more than 26 million U.S. workers lost their jobs and filed for unemployment benefits; that equates to about 1 in 6 American employees. To give a parallel, COVID-19 accomplished in 30 days what took a year to reach in terms of job losses during the 2008 recession. And things have only gotten worse from there. If your revenue collection method is payroll deduction—as is voluntary benefits—this is a life-changing event as a producer, broker or carrier.

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