What Is Ancillary Insurance?
Ancillary insurance coverage includes Dental, Vision, and Life as well as Accident, Critical Illness, Hospital Indemnity, Disability, and other secondary or health-supplemental coverage. Sometimes these are sponsored by an employer, sometimes they are entirely voluntary.
The most recent BenefitsPRO/Eastbridge Consulting Group survey of Voluntary Benefits producers includes these key findings:
-Many brokers reported higher sales in 2023 as compared to 2022.
-Both quote and enrollment activity increased in this period.
-Familiar insurance choices continue to rank among the most popular.
– Benefit brokers — those who primarily sell core or employer-funded products but also sell voluntary benefits — beat the industry average with 7% sales growth in 2023
-These brokers produced total sales of $6.3 billion, or 68% of the total market.
– Insurance brokers are optimistic about clients’ and employees’ future receptivity toward voluntary during the next year.
Educating Clients About Ancillary Insurance Products
While you should always encourage clients to make the best product service offering available to their clients here are the most popular ancillary products sold based on last year’s data:
| Among Benefits Brokers | Among Voluntary Brokers |
| Dental | Accidental Injury |
| Accidental Injury | Critical Illness |
| Short-Term Disability | Hospital Indemnity/Supplemental Medical |
| Critical Illness | Short-Term Disability |
| Term Life | Universal Life/Whole Life |
The results of MetLife’s 20th Annual U.S. Employee Benefit Trends Study in 2022 found employees consider many Ancillary benefits to be “must have” or “nice to have.” Beyond Health Insurance, the most-desired insured benefits are:
- Dental Insurance
- Vision Insurance
- Life Insurance
- Disability Insurance
- Critical Illness
- Accident Insurance
- Hospital Indemnity
- Cancer Insurance
Word & Brown Products & Services
Word & Brown works with a variety of carriers and administrators to offer Ancillary insurance coverage as well as Voluntary and Worksite products and services. You can see lists, organized by state and coverage type, on our website. Or, you can visit our Ancillary page. You can also learn more by talking with your Word & Brown representative.
If you’re not already doing business with Word & Brown, contact our headquarters and we’ll put you in touch with one of our sales experts in your region. We have representatives throughout California and Nevada. Call us today at 800-869-6989.
