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Carrier Exec: Term Life Looks Good

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Term life insurance sales seem to be stronger this year than they were in 2010.

Whole life was the star in 2010 and term life sales were sluggish.

New York Life Insurance Company, New York, has been getting good results from term life in recent months, according to Mark Pfaff, an executive vice president at the company.

New York Life recently introduced new term life products.

“Our [year to date] term sales are strong,” Pfaff said in an e-mail interview. “Year-to-date paid premiums are up 3%, while April will finish over 8% above prior year. Submitted applications in March and April are up over 18%.”

Other term life coverage from National Underwriter Life & Health: