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.
We recently looked at specific features included in senior-focused HI products, this segment of the market has also grown over time.
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!
