Mutual of Omaha’s group voluntary short-term disability (VSTD) product posted a 68% increase in sales growth from 2005 to 2006, according to a recently released LIMRA Worksite Marketing of Voluntary Products U.S. Sales Survey. With this significant growth, Mutual of Omaha, Omaha, Neb., now ranks ninth among its competitors for new sales premium in the LIMRA industry rankings for VSTD.
The survey also noted a strong gain of 50% in new sales for the group voluntary long-term disability (VLTD) product; and a 14% growth in total voluntary group life sales.
The consistent growth reflects Mutual of Omaha’s commitment to the voluntary market as well as the increasing demand for voluntary products, according to Scott Ault, Mutual of Omaha senior vice president of group insurance products.
“Mutual of Omaha is committed to offering excellent voluntary products backed by best-in-class service,” Ault said. “The double-digit voluntary sales growth we’ve consistently experienced over the past several years reflects our commitment to this market and our efforts to be a leader in the voluntary benefits arena.”
In addition to term life, short- and long-term disability products, Mutual of Omaha also offers dental and accidental death and dismemberment insurance on a voluntary basis. Voluntary products are offered through employers, but those who enroll pay the full premium through payroll deduction.