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March 11, 2020 at 03:51 AM
U.S. life insurance sales looked great in the fourth quarter of 2019.
Annualized premiums from new individual policy sales were 15% higher than in the fourth quarter of 2018, according to new survey data from LIMRA.
Resources
- A copy of the LIMRA life survey results is available here.
- An article about what some life insurers said about the mortality table shift in documents filed with the U.S. Securities and Exchange Commission is available here.
In the third quarter, sales were up just 2%, year over year.
LIMRA bases the individual life sales data on a survey that includes insurers that account for about 80% of U.S. individual life sales. The actual policy counts and premium totals are not available to members of the public.
Ashley Durham, associate research director at LIMRA’s insurance research arm, said in a comment about the results that all life insurance products were required to shift to the 2017 Commissioners Standard Ordinary (CSO) mortality table by Dec. 31, 2019.
