U.S. issuers of individual disability insurance were covering about as many people in 2022 as in 2021, according to new insurer survey data from Gen Re.
The number of in-force individual disability insurance policies held steady at 3.1 million, and revenue from those policies increased 3%, to $5.3 billion.
The number of new policies sold increased 3%, to 265,249. New sales premium rose 11%, to $457 million.
What It Means
Many of your clients are getting a modest amount of disability insurance through their employer.
The Gen Re figures suggest that the odds that a client has enough disability insurance in place to protect the lifestyle of a high earner are low.
