Premium revenue from new U.S. individual disability insurance policy sales increased 0.7% in 2006, to $321 million, but the total number of new policies issued fell 5%, to 220,531.
The number of new policies sold to medical professionals increased, thanks in part to changes in underwriting rules, but the total number of policies sold was down for the second year in a row, and the number of policies sold to individuals in other fields that involve any degree of risk, such as farmers and casino employees, declined significantly, according to researchers at JHA, Portland, Maine, a unit of Berkshire Hathaway Inc., Omaha, Neb.
The researchers based their findings on analysis of survey responses from 16 insurers in the individual disability market.
