Life sales down 11 percent

For seven consecutive years universal life sales experienced consistent growth, but this year, they are experiencing a significant decline. In 2007, premium sales experienced a similar drop of 12 percent in the third quarter

In comparison, sales in whole life products saw a dramatic jump in the third quarter — up 7 percent for the quarter and 2 percent year-to-date. According to survey responses, most of the increase came from the traditionally top sellers who have been trying to renew interest in their whole life products this year. They attributed the increases to factors such as product introductions and fire sales.