LIMRA Finds Drop in Q3 Life Sales

Life insurers sold fewer individual life policies in the United States in the third quarter, and total annualized premiums from the new policies sold also fell.

LIMRA, a nonprofit life insurance research group, has reported those findings in a summary of results from its latest quarterly life insurer survey.

Life insurers told LIMRA that they sold 3% fewer individual life policies in the third quarter than in the third quarter of 2016.

Annualized premiums for the new policies sold fell 2%, but the total value of the new life insurance coverage provided increased 1%.

(Related: Variable Universal Life Sales Take Lead: LIMRA)

Universal life suffered the biggest drop in terms of the number of policies sold, with the policy count falling 7%, year-over-year.