Background
The 2026 U.S. Group Disability Market Survey provides an industry perspective of new sales and in-force business for short-term disability (STD), long-term disability (LTD), and statutory or paid family and medical leave (PFML) insurance products sold in the United States in 2024 and 2025. This summary report includes several key results from the 2026 U.S. Group Disability Market Survey.
STD premium in the 2026 Group Disability Market Survey generally does not include statutory disability or PFML coverages unless a carrier was not able to split PFML or statutory disability from its STD business. PFML was defined to include the following coverages in this survey: MA PFML, CA VDI1 & PFL, NJ TDI2 & FLI,3 NY DBL4 & PFL, HI TDI, CO PFML, WA PFML, OR PFML, and CT PFML.
In-force business
The participating companies reported $24.4 billion in combined LTD, STD, and PFML in-force premium in 2025, an increase from $23.4 billion reported by the same companies in 2024. LTD in-force premium increased by 2.9%, STD in-force premium increased by 6.6%, and PFML in-force premium increased by 8.7%, as shown in Figure 1. Note that totals and percentage increases may not match exactly due to rounding.
Figure 1: Total in-force premium among participating companies from 2024 and 2025 ($ billions)
The survey data were used to calculate average in-force premium per life (PPL) metrics for LTD and STD, as shown in Figure 2. The average LTD in-force PPL increased 0.5% from 2024 to 2025, whereas the average STD in-force PPL increased 6.2%.
Figure 2: 2025 average in-force premium per life
| PRODUCT | AVERAGE PPL | PPL GROWTH RATE |
|---|---|---|
| STD | $245.0 | 6.2% |
| LTD | $296.4 | 0.5% |
Figure 3 shows growth rates for in-force cases, premium, and covered lives from 2024 to 2025 for STD and LTD.
Figure 3: Group disability in-force growth rates
| STD | LTD | |
|---|---|---|
| Cases | 2.5% | 0.4% |
| Premium | 6.6% | 2.9% |
| Lives | 0.3% | 2.4% |
New sales
The combined LTD, STD, and statutory disability/ PFML new sales premium decreased from $3.2 billion in 2024 to $3.0 billion in 2025, as shown in Figure 4. The LTD new sales premium decreased 6.6% from $1.6 billion in 2024 to $1.5 billion in 2025. The STD new sales premium decreased 3.2% from $1.2 billion in 2024 to $1.1 billion in 2025. PFML sales from carriers who submitted sales in both 2024 and 2025 decreased 20.3% from $0.38 billion in 2024 to $0.31 billion in 2025.
Figure 4: Total new sales premium among participating companies from 2024 and 2025 ($ billions)
Figure 5 shows average PPL metrics for new sales in 2025 for STD and LTD, and the PPL growth rate from 2024 to 2025. Average PPL increased 0.7% for STD products and increased 15.9% for LTD products.
Figure 5: 2025 average new sales premium per life
| PRODUCT | AVERAGE PPL | PPL GROWTH RATE |
|---|---|---|
| STD | $223.8 | 0.7% |
| LTD | $254.9 | 15.9% |
Figure 6 shows STD and LTD new sales growth rates for cases, premium, and covered lives from 2024 to 2025.
Figure 6: Group disability new sales growth rates
| STD | LTD | |
|---|---|---|
| Cases | 4.3% | 8.5% |
| Premium | −3.2% | −6.6% |
| Lives | −3.8% | −19.4% |
Other key results
Figures 7 through 12 provide additional details of the in-force and new sales premium reported by survey participants. The company rankings in these tables are based on reported premium in 2025.
Figure 7: STD new sales premium in 2024 and 2025 ($ millions)
| RANK | COMPANY | 2024 | 2025 | % CHANGE |
|---|---|---|---|---|
| 1 | UNUM* | $182.7 | $186.8 | 2.2% |
| 2 | METLIFE | $135.1 | $147.9 | 9.5% |
| 3 | LINCOLN | $151.5 | $119.0 | −21.5% |
| 4 | GUARDIAN | $124.7 | $110.9 | −11.1% |
| 5 | MUTUAL OF OMAHA | $89.9 | $97.9 | 8.9% |
| 6 | THE STANDARD | $72.5 | $89.4 | 23.4% |
| 7 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $91.3 | $81.1 | −11.2% |
| 8 | HARTFORD | $105.2 | $76.3 | −27.5% |
| 9 | PRUDENTIAL INCURANCE CO. | $55.5 | $47.5 | −14.4% |
| 10 | PRINCIPAL FINANCIAL GROUP | $43.7 | $43.7 | −0.2% |
| 11 | AFLAC | $7.9 | $24.7 | 214.9% |
| 12 | SYMETRA | $22.5 | $23.3 | 3.4% |
| 13 | UNITEDHEALTHCARE | $17.6 | $17.7 | 0.3% |
| 14 | ONEAMERICA | $13.3 | $17.3 | 30.5% |
| 15 | VOYA FINANCIAL* | $21.7 | $16.5 | −24.0% |
| 16 | EQUITABLE | $17.8 | $13.6 | −23.7% |
| 17 | USABLE LIFE | $7.6 | $9.8 | 29.2% |
| 18 | NORTHWESTERN MUTUAL | $2.2 | $2.4 | 8.6% |
| 19 | TRUSTMARK INSURANCE - VB | $0.5 | $0.6 | 26.4% |
| 20 | NYSIF | N/A | N/A | N/A |
| 21 | SHELTERPOINT LIFE INSURANCE COMPANY | $0.0 | $0.0 | N/A |
*Results may be overstated due to the inclusion of statutory and/or PFML plans.
Figure 8: STD in-force premium from 2024 and 2025 ($ millions)
| RANK | COMPANY | 2024 | 2025 | % CHANGE |
|---|---|---|---|---|
| 1 | UNUM | $899.4 | $924.7 | 2.8% |
| 2 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $897.9 | $913.5 | 1.7% |
| 3 | LINCOLN | $842.5 | $892.8 | 6.0% |
| 4 | METLIFE | $623.1 | $702.5 | 12.8% |
| 5 | HARTFORD | $655.6 | $636.0 | −3.0% |
| 6 | MUTUAL OF OMAHA | $549.2 | $584.9 | 6.5% |
| 7 | GUARDIAN | $476.3 | $504.4 | 5.9% |
| 8 | THE STANDARD | $376.5 | $461.9 | 22.7% |
| 9 | PRUDENTIAL INCURANCE CO. | $383.5 | $427.6 | 11.5% |
| 10 | PRINCIPAL FINANCIAL GROUP | $285.2 | $301.0 | $5.6% |
| 11 | VOYA FINANCIAL* | $105.9 | $104.5 | $−1.4% |
| 12 | SYMETRA | $79.4 | $93.1 | 17.3% |
| 13 | ONEAMERICA | $69.4 | $84.4 | 21.7% |
| 14 | UNITEDHEALTHCARE | $79.0 | $79.8 | 1.0% |
| 15 | EQUITABLE | $55.8 | $61.0 | 9.2% |
| 16 | AFLAC | $31.1 | $56.2 | 80.8% |
| 17 | USABLE LIFE | $35.2 | $39.8 | 13.0% |
| 18 | NORTHWESTERN MUTUAL | $22.6 | $23.6 | 4.4% |
| 19 | TRUSTMARK INSURANCE - VB | $4.6 | $4.9 | 5.0% |
| 20 | SHELTERPOINT LIFE INSURANCE COMPANY | $0.0 | $0.0 | 4.2% |
| 21 | NYSIF | N/A | N/A | N/A |
*Voya’s results may be overstated because statutory disability/PFML were not split out.
Figure 9: LTD new sales premium from 2024 and 2025 ($ millions)
| RANK | COMPANY | 2024 | 2025 | % CHANGE |
|---|---|---|---|---|
| 1 | UNUM | $282.3 | $243.8 | −13.6% |
| 2 | METLIFE | $274.8 | $224.4 | −18.3% |
| 3 | LINCOLN | $199.1 | $178.6 | −10.3% |
| 4 | HARTFORD | $178.7 | $163.5 | −8.5% |
| 5 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $111.2 | $123.5 | 11.1% |
| 6 | THE STANDARD | $118.0 | $110.4 | −6.4% |
| 7 | GUARDIAN | $103.1 | $94.4 | −8.5% |
| 8 | MUTUAL OF OMAHA | $81.4 | $91.1 | 12.0% |
| 9 | PRUDENTIAL INCURANCE CO. | $88.9 | $77.1 | −13.3% |
| 10 | AFLAC | $32.9 | $69.1 | 110.0% |
| 11 | PRINCIPAL FINANCIAL GROUP | $43.5 | $43.4 | −0.3% |
| 12 | SYMETRA | $26.9 | $27.6 | 2.4% |
| 13 | VOYA FINANCIAL | $28.0 | $19.3 | −31.0% |
| 14 | UNITEDHEALTHCARE | $18.2 | $15.6 | −14.1% |
| 15 | ONEAMERICA | $11.0 | $13.6 | 23.5% |
| 16 | EQUITABLE | $17.9 | $13.2 | −26.1% |
| 17 | USABLE LIFE | $6.7 | $7.1 | 5.4% |
| 18 | NORTHWESTERN MUTUAL | $4.2 | $4.4 | 5.6% |
| 19 | TRUSTMARK INSURANCE - VB | $0.1 | $0.1 | 5.1% |
| 20 | NYSIF | N/A | N/A | N/A |
| 21 | SHELTERPOINT LIFE INSURANCE COMPANY | $0.0 | $0.0 | N/A |
Figure 10: LTD in-force premium from 2024 and 2025 ($ millions)
| RANK | COMPANY | 2024 | 2025< | % CHANGE |
|---|---|---|---|---|
| 1 | HARTFORD | $2,192.3 | $2,154.1 | −1.7% |
| 2 | METLIFE | $1,930.7 | $2,068.6 | 7.1% |
| 3 | LINCOLN $1,935.8 $2,017.9 4.2% | $1,935.8 | $2,017.9 | 4.2% |
| 4 | UNUM | $2,004.6 | $2,005.8 | 0.1% |
| 5 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $1,587.1 | $1,579.5 | −0.5% |
| 6 | THE STANDARD | $1,139.7 | $1,231.2 | 8.0% |
| 7 | PRUDENTIAL INCURANCE CO. | $982.3 | $1,013.4 | 3.2% |
| 8 | GUARDIAN | $653.9 | $625.1 | −4.4% |
| 9 | MUTUAL OF OMAHA | $574.3 | $604.8 | 5.3% |
| 10 | PRINCIPAL FINANCIAL GROUP | $401.0 | $405.1 | 1.0% |
| 11 | AFLAC | $169.6 | $234.6 | 38.3% |
| 12 | VOYA FINANCIAL | $173.8 | $173.9 | 0.1% |
| 13 | SYMETRA | $124.2 | $144.2 | 16.1% |
| 14 | NORTHWESTERN MUTUAL | $101.2 | $99.4 | −1.8% |
| 15 | ONEAMERICA | $76.5 | $88.4 | 15.6% |
| 16 | UNITEDHEALTHCARE | $79.8 | $82.3 | 3.1% |
| 17 | EQUITABLE | $65.5 | $67.8 | 3.6% |
| 18 | USABLE LIFE | $60.8 | $67.5 | 11.1% |
| 19 | TRUSTMARK INSURANCE - VB | $1.7 | $1.6 | −1.8% |
| 20 | SHELTERPOINT LIFE INSURANCE COMPANY | $0.2 | $0.1 | −8.2% |
| 21 | NYSIF | N/A | N/A | N/A |
Not all carriers participated in the statutory disability/PFML component of the survey; however, the results from those that contributed data are shown in Figures 11 and 12.
Figure 11: PFML new sales premium from 2024 and 2025 ($ millions)
| RANK | COMPANY | 2024 | 2025 | % CHANGE |
|---|---|---|---|---|
| 1 | SHELTERPOINT LIFE INSURANCE COMPANY | $46.1 | $68.9 | 50% |
| 2 | HARTFORD | $80.2 | $45.7 | −43% |
| 3 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $48.3 | $37.2 | −23% |
| 4 | METLIFE | $45.7 | $34.3 | −25% |
| 5 | LINCOLN | $47.2 | $31.3 | −34% |
| 6 | GUARDIAN | $26.8 | $24.1 | −10% |
| 7 | PRUDENTIAL INCURANCE CO. | $18.0 | $21.4 | 19% |
| 8 | MUTUAL OF OMAHA | $26.9 | $11.6 | −57% |
| 9 | AFLAC | $5.2 | $7.8 | 51% |
| 10 | PRINCIPAL FINANCIAL GROUP | $23.7 | $6.9 | −71% |
| 11 | USABLE LIFE | $1.4 | $4.6 | 219% |
| 12 | NYSIF | $4.7 | $4.5 | −5% |
| 13 | SYMETRA | $2.3 | $4.0 | 70% |
| 14 | EQUITABLE | $5.2 | $2.6 | −51% |
| 15 | UNITEDHEALTHCARE | $1.8 | $0.8 | −56% |
Figure 12: PFML in-force premium from 2024 and 2025 ($ millions)
| RANK | COMPANY | 2024 | 2025 | % CHANGE |
|---|---|---|---|---|
| 1 | HARTFORD | $499.7 | $557.8 | 12% |
| 2 | SHELTERPOINT LIFE INSURANCE COMPANY | $450.7 | $490.1 | 9% |
| 3 | METLIFE | $355.3 | $380.8 | 7% |
| 4 | LINCOLN | $313.1 | $357.4 | 14% |
| 5 | UNUM | $205.4 | $225.8 | 10% |
| 6 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $172.6 | $207.9 | 20% |
| 7 | GUARDIAN | $206.3 | $190.1 | −8% |
| 8 | PRUDENTIAL INCURANCE CO. | $134.5 | $144.9 | 8% |
| 9 | NYSIF | $114.4 | $108.7 | −5% |
| 10 | NEW YORK LIFE GROUP BENEFIT SOLUTIONS | $172.6 | $207.9 | 20% |
| 11 | PRINCIPAL FINANCIAL GROUP | $59.4 | $57.7 | −3% |
| 12 | AFLAC | $15.4 | $25.8 | 67% |
| 13 | EQUITABLE | $19.2 | $18.3 | −5% |
| 14 | SYMETRA | $8.3 | $11.7 | 41% |
| 15 | UNITEDHEALTHCARE | $2.6 | $4.2 | 65% |
Survey participation
Companies that participate in Milliman’s U.S. Group Disability Market Survey receive a comprehensive report of metrics and industry benchmarks at no charge. Please contact the author if your company would like to participate in Milliman’s U.S. Group Disability Market Survey in the future.
The following insurance companies participated in the survey:
- Aflac
- Equitable
- Lincoln
- MetLife
- Mutual of Omaha
- New York Life Group Benefit Solutions
- New York State Insurance Fund
- Northwestern Mutual
- OneAmerica Financial
- Principal Financial Group
- Prudential Insurance Co.
- ShelterPoint Life Insurance Company
- Symetra
- The Guardian Life Insurance Company of America
- The Hartford
- The Standard
- Trustmark Insurance – VB
- UnitedHealthcare
- Unum
- USAble Life
- Voya Financial
Reliance and limitations
In performing the 2026 U.S. Group Disability Market Survey and preparing this report, Milliman relied upon the information provided by the participating companies. To the extent that these data are incomplete or inaccurate, the results may be materially affected. Submitted data were reviewed carefully; however, at times it appeared there were imperfections. If there were apparent imperfections, we then decided whether to contact the carrier, allow the data to flow through, or attempt to correct or exclude it.
Qualifications
I, Maxwell Berube, FSA, MAAA, am a consulting actuary with Milliman. This report provides an opinion regarding trends in the group disability insurance market. I am a member of the American Academy of Actuaries and meet its qualification standards for rendering this opinion.
1 Voluntary disability insurance.