New Eastbridge report shows voluntary sales hit historic highs

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]

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SOURCE Eastbridge Consulting Group