What You Need to Know
- Fixed universal life sales were terrible.
- Whole life sales were weak.
- Indexed life sales were meh.
Wink Inc. says fixed universal life, indexed life and whole life sales sales fell to about $1.7 billion in the fourth quarter of 2020, down from about $2.5 billion in the fourth quarter of 2019.
Low interest rates and the effects of the COVID-19 pandemic continued to weigh on sales of permanent life products, despite results from other surveys suggesting that the pandemic has increased consumer interest in life insurance.
The Des Moines, Iowa-based company bases its numbers on results from a voluntary issuer survey.
The Wink indexed life data reflects sales of some indexed whole life policies as well as sales of indexed universal life policies.