IUL sales were up from $447 million in the first quarter.
(Related: Indexed Universal Life Sales Rise 3.4%: Wink)
Sheryl J. Moore, Wink’s president reported those figures in a summary of results from a survey of life insurance issuers.
Wink, which is based in Des Moines, Iowa, has been collecting IUL sales data for 20 years.
About 81% of the reported IUL sales were to purchasers who said their primary objective was cash accumulation, according to Wink. Other common IUL primary objectives include protecting and maximizing a death benefit and generating retirement income.
Pacific Life Companies reported the highest IUL sales for the second quarter, and it was the market leader in terms of second-quarter IUL sales through banks and through independent agents.
— Read Despite NAIC Guideline, IUL Insurance Sales Remain Healthy on ThinkAdvisor.
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