Signs of life emerged in the U.S. life insurance market, as individual life premium rose 7 percent in new annualized premium in 2006. That increase is the largest since 2000, according to LIMRA International. Total face amount sold went up by 4 percent over the previous year.
On a product-by-product basis, universal life and variable UL both grew the most, up by 9 percent each. Term life was up by 5 percent, whole life by 2 percent. Universal life's market share stands at 40 percent, followed by 23 percent for term, 22 percent for whole and 14 percent for variable UL.
Survivorship sales were down 2 percent, likely over concern about the fate of the estate tax.
| Annualized premiums | Face amount | Number of policies | |
| Universal life | 9 percent | 7 percent | -2 percent |
| Term life | 5 percent | 4 percent | 1 percent |
| Whole life | 2 percent | 0 percent | -2 percent |
| Variable universal | 9 percent | -2 percent | -7 percent |
| Variable life | -4 percent | -2 percent | -12 percent |
| Totals | 7 percent | 4 percent | -1 percent |
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