Hospital indemnity is currently one of the fastest growing products in the voluntary market. LIMRA recently reported that supplemental health product sales for the first quarter of 2022 increased 6%, with hospital indemnity sales jumping 12% year-over-year. This represents four straight quarters of strong growth in supplemental health and my discussions with advisors confirm their interest in hospital indemnity and supplemental medical products.

But “why hospital indemnity?” and “why now?” The answers center around two gaps in the typical family’s financial security: The cost of hospital-related services and the amount of savings available.

The cost of hospital-related services has been “ahead of the curve” for years when it comes to inflation. Many describe hospital indemnity as a “hot new benefit,” which is amusing since my experience with it goes back 50 years. And even then, it was not a new group product.

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