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Sales growth continues for fifth straight year but at more moderate rate AVON, Conn. , April 30, 2025 /PRNewswire/ -- Sales of voluntary benefits continued on an upward track in 2024 and drove the industry to record highs in new and in-force premium, according to Eastbridge Consulting Group's "U.S.
Voluntary/Worksite Sales Report." The report shows total sales across all voluntary lines rose to $9.53 billion last year, an increase of approximately 2% over 2023.
In-force premium grew at a significantly stronger 6.1% rate, reaching an all-time high of $56.6 billion in 2024.
"Voluntary sales growth slowed a bit from the last few years of a strong post-pandemic rebound, but still continued their upward trend," said Nick Rockwell , Eastbridge president. "The strong growth in in-force premium is especially promising, at it indicates more employers and employees are seeing the value in voluntary benefits and keeping their coverage." Eastbridge's "U.
S. Voluntary/Worksite Sales Report" provides the industry's most comprehensive, reliable and current source of data available on voluntary/worksite sales and in-force premium. The new report includes data from 2000 through 2024 from 61 companies, primarily on group and individual life and health products.
Other key findings in the report include: Supplemental health products saw the greatest sales increases this year, while the more traditional voluntary lines of life and disability remained relatively stable or decreased slightly. Critical illness sales were particularly strong with a 13% increase, while hospital indemnity/supplemental medical sales were up 7%. Group voluntary products continue to dominate the market, accounting for 78% of all voluntary sales in 2024.
Group sales increased 3% over 2023, while individual sales fell a slight 1%. Businesses with 2,500 or more employees produced the strongest sales growth at about 6%, while the smallest market segment — companies with fewer than 10 employees — saw the biggest decline at 14%. All participants in the study for the "U.
S. Voluntary/Worksite Sales Report" receive a free copy of the complete findings, including company-specific results. Carriers interested in participating in next year's study can contact Eastbridge at [email protected] .
About Eastbridge Consulting Group Eastbridge Consulting Group, Inc . is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada. Follow Eastbridge on LinkedIn at https://www.
linkedin.com/company/eastbridge-consulting-group . CONTACT: Ginger Bates EMAIL: [email protected] SOURCE Eastbridge Consulting Group.
