07.03.25

Workplace Insurance Sales Drop as Market Normalizes

by: Kristen Smithberg

Workplace insurance sales are beginning to normalize to pre-pandemic levels, resulting in lower sales this quarter, according to new LIMRA research. Total workplace life insurance premium fell 16% during the first quarter to $1.8 billion year over year. Nearly two-thirds of participating carriers reported declines, said LIMRA. Whole life premium improved 6% while new premium for both term and permanent products dropped 16%. Group life insurance premium, which represents 93% of the market, fell 16% and individual sales were down 8%, according to the report.

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