Thank goodness for whole life.
While many beneficiaries say that every day, the entire life insurance industry has been saying it all year.
Whole life sales grew 5% in the first quarter of 2011, 10% in the second quarter, and LIMRA recently announced 10% growth for the third quarter and for the first nine months overall. Whole life policy count is up 6% so far this year. Independent producers increased their whole life output by an impressive 18% in the third quarter.
The category has led total individual life insurance premium to 5% overall growth through the first nine months of 2011 and overall policy sales growth as well, according to LIMRA’s U.S. Individual Life Insurance Sales report.