Strong demand for permanent life products led to a solid gain in new annualized premiums from and a small gain in the number of individual life policies sold in the United States during the first quarter.
Total annualized premium revenue from new U.S. individual life sales was 8% higher during the first quarter than in the first quarter of 2010, according to LIMRA, Windsor, Conn.
The number of sales sold increased 2%.
LIMRA has based those figures on results from a quarterly survey of life insurers.
LIMRA researchers found a deep divide between production of term life coverage and permanent life coverage.
On the term side, the policy count and new annualized premium revenue were down 11%.
On the permanent side, annualized premiums were up 14% for both universal life (UL) and variable universal life (VUL). They were up 15% for whole life.