Some life insurers are taking sharply different approaches to sales of universal life insurance.[@@]
Prudential Financial Inc., Newark, N.J., notes in its third-quarter earnings release that it has doubled its UL sales.
A competitor, Lincoln National Corp., Philadelphia, is emphasizing its efforts to avoid competing too fiercely for UL business.
Prudential is reporting $728 million in net income for the latest quarter on $7.3 billion in revenue, up from $297 million in net income on $6.7 billion in revenue for the third quarter of 2003.
What Your Peers Are Reading
Profits and sales have improved at many units have improved.
At the retirement products unit, sales of guaranteed products increased to $1.7 billion, from almost $1 billion.
UL sales jumped to $48 million, from $24 million.