NU Online News Service, June 30, 2004, 3:59 p.m. EDT
Insurers seem to be more interested this year in introducing worksite insurance products that "morph."[@@]
When researchers at Eastbridge Consulting Group Inc., Avon, Conn., conducted their 2004 worksite products trends survey, they asked about products that change as a result of the passage of time or the occurrence of certain events. One example Eastbridge gives is a disability insurance plan that turns into a long term care insurance plan.
This year, 74% of the insurers surveyed predict that morphing products will become more prevalent, up from 65% in 2002, Eastbridge reports.
But Eastbridge notes that general interest in introducing new worksite products has dropped in the past 2 years.
The "emerging" products with the most current appeal appear to be critical illness insurance, which appears on 66% of the insurers' worksite product menus, and hospital/medical supplement insurance, which appears on 41% of the insurers' worksite product menus.
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