Strong sales of universal life insurance are continuing to buoy the U.S. life market.[@@]
Revenue from new U.S. individual life sales was 10% higher during the first quarter than it was during the first quarter of 2003, according to LIMRA International, Windsor, Conn.
The number of policies sold rose only 1%, but the face amount of each policy sold rose about 9%.
Back in the go-go 1990s, interest-sensitive universal life appeared to be going the way of mood rings and poodle skirts. Today, crediting rates are much lower, but years of stock market turmoil have increased the appeal of UL policies. Thanks to consumers’ new hunger for safety, UL sales soared 30% in the first quarter, LIMRA reports.