New individual life annualized premium was 7% higher in the second quarter than in the comparable quarter in 2009.
Annualized premium from new U.S. coverage sales climbed 11% for universal life, and it jumped 23% for whole life, according to LIMRA Windsor, Conn.
Whole life and universal life also showed strong growth in policy amounts and number of policies sold.
For whole life, the face amount of coverage sold increased 18%, and the number of new policies sold increased 8%. For universal life, face amount increased 11%, and the policy count increased 34%.