U.S. individual life sales were 10% higher in the first quarter than they were in the first quarter of 2009, according to LIMRA.
Universal life sales rose 17%, and 65% of the companies that participated in the individual life survey told LIMRA, Windsor, Conn., that UL sales had increased.
The number of UL policies sold was 21% higher than in the first quarter 2009.
The UL sales increase was the largest LIMRA has recorded since the third quarter of 2002.
What Your Peers Are Reading
New indexed UL premium revenue was about 50% higher in the first quarter than in the first quarter of 2009.
New products, sales of large policies, and focused sales campaigns drove the indexed UL sales gains, LIMRA says.
Whole life, the only major life product category to show sales growth in 2009, experienced the next biggest increase in first-quarter sales.