NU Online News Service, March 12, 2003, 11:49 a.m. EST – Premiums from individual U.S. life insurance sales increased 3% in 2002, according to results of industry surveys by LIMRA International, Windsor, Conn.
LIMRA, a nonprofit market research consortium, declined to give a dollar figure for 2002 sales, but it says 2001 sales amounted to $11 billion.
LIMRA is also reporting a 12% increase in the face amount of the coverage sold.
Calculations based on the LIMRA figures suggest that the price for every $1,000 of coverage sold dropped about 8%.