PORTLAND, MAINE:  JHA is pleased to release the results of its 2002 U.S. Individual Disability Market Survey.  This industry benchmark survey captured 2002 Guaranteed Renewable (GR), Non-Cancelable (Non-Can) and Buy-Sell business line results for 18 individual disability insurance carriers accounting for more than $3.3-billion of inforce premium. 

U.S. individual disability inforce premium (GR, Non-Can and Buy-Sell) increased approximately 4% to over $3.3 billion in 2002.  Participating companies reported a 5% increase in GR inforce premium, and a 4% increase in Non-Can inforce premium.  According to the survey, the number of inforce GR policies decreased by 2% while Non-Can increased by almost 2%.  Inforce benefit amounts for both GR and Non-Can increased by approximately 3% compared to 2001.

Overall, GR and Non-Can combined new sales premium grew by 14% in 2002. Despite the increase in new premium, the number of new policies within GR and Non-Can fell 3%.  The survey results also appear to indicate that the shift from GR to Non-Can new sales continued in 2002.  GR new sales premium decreased 11% while Non-Can new sales grew 22%. 

The JHA U.S. Individual Disability Market Survey features sales and inforce premium information for Guaranteed Renewable, Non-Cancelable and Buy-Sell policy types.