Life insurance sales did well in the second quarter of 2010, according to a report on Wednesday, August 25, from LIMRA. Whole, universal and variable life insurance products all posted increases in the second quarter; in fact, the only product that did not increase in sales was term life.
Individual life insurance sales increased for the second consecutive quarter, LIMRA reports, increasing annualized premium by 7%. Sales for the first six months increased 9%.
Sales of universal life increased 11% in the second quarter; sales are up 13% for the first six months. Death benefit guarantees increased 5% and account for half of universal life annualized premium, according to LIMRA’s report.