Living benefit riders to life insurance policies: Pricing considerations and strategy
Adding benefit riders to policies provides meaningful coverage for those who need it, and carriers usually can do so at a relatively low cost.
In October 2020, Milliman released its third Hospital Indemnity (HI) Survey report. This report represents 32 carriers and $1.8 billion in inforce premium. The surveys explore numerous facets of the HI market, including sales and inforce, product profile, product features, offerings, target metrics, commissions and tech fees, enrollment & portability, maternity benefits, underwriting, claims and billing, risks, competitors, and popular benefits. Additionally, we segment data, where appropriate, by group, worksite individual, and non-worksite individual. We provide a comprehensive analysis of key market trends with insights from our consultants. For more information, please contact David Bahlinger in our Tampa, Florida, office.