COLUMBIA, S.C. (June 10, 2019) — For the second straight year, Colonial Life has been named the fastest-growing voluntary benefits company among large carriers by Eastbridge Consulting Group.
Colonial Life’s voluntary sales grew 8 percent in 2018, totaling $561 million. That’s the biggest growth of any company with more than $150 million in annual sales that has exceeded the industry average each of the past three years, according to Eastbridge. The performance earned Colonial Life the 2018 Voluntary Sales Growth Leader recognition.
“Growing faster than the industry average for three years in a row is not easy for any company, but it’s especially difficult in the large carrier category,” said Gil Lowerre, president of Eastbridge. “We commend Colonial Life for this achievement.”
Voluntary sales totaled $8.5 billion in 2018, according to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report. Voluntary benefits include any financial protection that employees can choose at the workplace, including life insurance, disability insurance, dental insurance, accident insurance, critical illness insurance and cancer insurance.
“Escalating healthcare costs are burdening U.S. employees like never before. Our 1,400 home office employees and the 14,000 members of our sales organization are helping millions of consumers realize they can affordably protect their finances, their families and their futures with voluntary benefits,” according to Colonial Life President and CEO Tim Arnold.
“Colonial Life’s growth is just a sign that we are helping America’s workers understand voluntary benefits and that, in turn, helps them better engage with their employers.”