This report presents the results of Milliman’s 2025 annual survey of the U.S. individual disability income (IDI) insurance market. Milliman first conducted this survey in 2007 and has conducted IDI surveys annually, except for 2015. Twelve insurance companies that are active in the U.S. IDI market provided data and other information about new business sold from 2020 through 2024, including sales distributions, underwriting requirements, product offerings and pricing, favorable and unfavorable trends, and opportunities and obstacles affecting the IDI market.
Selected highlights include the following:

• New annualized premium for the 12 contributing companies fell to $423 million in 2024, which is a 1% decrease from new premium for these companies in 2023. This follows large growth in new premium from 2022 to 2023.
• Nine of 12 companies experienced negative growth rates in new premiums in 2024.
• Surgeons and other types of doctors represented 33% of total new premium in 2024 compared to a five-year average of 31%.
• The percentage of new IDI premium issued on noncancelable policies has increased slowly over the last five years, reaching 85% in 2024, with percentage varying considerably by key occupation, market, and distribution channel.