From Telos Actuarial:
Hospital Indemnity Plans (HIP) pair well with a Medicare Advantage (MA) plan, so it’s no surprise that awareness and sales of these products are growing among distributors and seniors.
In past blog entries, we have noted growth in ancillary products. These entries include data through 2023. Continue watching here for updated values through 2024.
Looking at HIP products specifically, Telos has explored:
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Growth in all HIP products and senior-focused HIP products
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Underwriting and Commissions for senior-focused products
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Benefit specifics and Guaranteed Issue availability for senior-focused products
Download a free Product Essentials Guide on Hospital Indemnity products. If you are ready to dig deeper into data on market size and key competitors, a Market Projection Report is available.