Product Solutions
  • Articles
  • November 2020
  • 5 minutes

Group Optional Benefit Premiums in Canada: A Closer Look

By
  • Carole Bellm
Analysis computer growth business technology
In Brief
RGA Group Reinsurance conducted a survey of Canadian insurers on group optional products to assess the growth in premium in the past five years.

In August 2020, RGA Group Reinsurance conducted a survey of the Canadian insurance market to assess the growth in group optional premiums over the past five years.

Thirteen carriers participated in the survey, providing feedback on group optional products for employees and dependents between 2015 and 2019. Results showed that while optional premium growth remained relatively flat for both life and accidental death and dismemberment (AD&D) products, optional critical illness premiums increased substantially. Contributing factors to these trends may offer insurers insights into strategies for future product development.


More Like This...

Meet the Authors & Experts

Carole Bellm
Author
Carole Bellm
Assistant Vice President, Group Underwriting, RGA Canada