U.S. life insurers sold 7% more individual life insurance policies in the third quarter of this year than in the third quarter of 2019, according to LIMRA.
Annualized premiums increased 2%, year-over-year, LIMRA says.
- A link to LIMRA’s quarterly life sales report is available here.
- An article about LIMRA’s previous life sales report is available here.
LIMRA bases its life sales figures on an insurer survey. The participants in the latest survey accounted for about 80% of the new annualized premiums from life policy sales. LIMRA’s quarterly life survey summary shows changes in sales figures in percentage terms. The summary does not give the actual sales totals.
Here’s what happened to the number of some types of policies sold between the third quarter of 2019 and the latest quarter:
- Fixed Universal Life: Down 8%
- Whole Life: Up 7%
- Term Life: Up 10%
- Indexed Universal Life: Up 13%
— Read Wink Sees Sharp Drop in Q2 Individual Life Sales, on ThinkAdvisor.