U.S. sales of preneed life insurance fell 3% in 2017, to $1.3 billion, according to the Life Insurers Council.
Sales of preneed annuities increased 5%. The dollar value of preneed annuity sales was not immediately available.
(Related: Lincoln Adds Indexed Variable Annuity)
The Life Insurers Council is an arm of LOMA, which, in turn, is part of LL Global Inc. LL Global is the parent of both LOMA and LIMRA.
The council bases its preneed sales results on a survey of 15 issuers.
Final expense insurance is an arrangement the purchaser can use to pay for funerals, cremations, burials and other arrangements from any provider.