Total individual life insurance new annualized premium increased 4 percent in the first half of 2011, according to LIMRA's U.S. Individual Life Insurance Sales report.
"Overall, individual life insurance sales slowed from first quarter, but still remained positive with premium and policy count up one percent compared with second quarter 2010," says Ashley Durham, a LIMRA senior analyst. "Part of the slowdown in growth is a reflection of a few companies moving away from lifetime death benefit guarantee universal life products."
Annualized premium sales for death benefit guarantee UL products were three percent lower than they were during 2010's second quarter, and level in the first half of the 2011. Still, these products held 45 percent of UL market share through the second quarter.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.