We read financial news from disability insurance companies with a slightly different approach than shareholders or casual observers. When profits are up, we hope that it’s not on the backs of policy owners. This quarter is mixed bag, with some reporting dismal results – which we know will be reflected in the number of calls to our office – and others crowing great sales success.
Cigna reports that its disability insurance premiums and fee revenues increased from $306 million to $377 million. Not bad, considering what other disability insurance revenues are doing at other carriers.
Group disability sales at Hartford fell to $25 million, from $33 million, and fully insured ongoing group disability premiums fell to $411 million, from $452 million. They’re not having fun in Connecticut, that’s for sure.
Principal reports increases both in group and individual sales and premium and fee revenues. But what grabs our attention most is that the incurred loss ratio fell to 68.3 percent, from 70.9 percent. You don’t even have to read between the lines – profits are up and so are the numbers of disabled policy owners whose benefits are being denied, delayed and terminated.
If your disability insurance benefits are being influenced more by market indices than by your medical condition, you may need the help of experienced disability lawyers. Our commitment to helping clients is not affected by sales levels, quarterly reports or shareholder opinions. Call today to learn how we can help.