Hospital Indemnity Growth
In past blog entries, we have noted recent growth in ancillary products here and here. Today we zoom in further on Hospital Indemnity (HI) products, and look at trends over time.
Hospital Indemnity products are designed to pay a fixed dollar amount when an individual is confined to a hospital, and many products also add fixed dollar benefits for additional services. Premium volume for these products has been consistent, steady, and growing over time.
Don’t miss the growth rates embedded in these charts. All Hospital Indemnity products have averaged 5% premium growth per year from 2019-2023, while senior-focused products have added an average of 15% more premium each year!
If you’re not already in the Hospital Indemnity market, it’s worth taking a look!
For more high-level information about Hospital Indemnity products you can download our free Product Essentials Guide. For additional data on market size and key competitors, our Market Projection Report is available. Both resources can be found in our online store.
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