IUL Continues Its Hot Streak

By Cyril Tuohy – InsuranceNewsNet – March 2, 2018A glass jar with coins

New premium for indexed universal life insurance sales rose 9% in Q4 2017 compared to Q4 2016, and IUL new premium rose 8% in 2017 compared with 2016, LIMRA reported in a quarterly briefing to its members. Q4 IUL sales represented 24% of all individual life insurance premium, compared to 21% a year ago. In Q4, IUL accounted for 64% of all universal life premium.

Coming off similar growth numbers for Q3 2017, IUL sales provide one of the few growth lines in a struggling individual life market. Overall sales growth of individual life in Q4 fell 1% compared to Q4 2016. Meanwhile, life insurance policy count fell 2% compared to Q4 2016.

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New Medicare I.D. Card Distribution Flow

Businessman holding abstract polygonal globe with glowing medical icons on dark background. Medicine and connection concept. 3D RenderingBy the Centers for Medicare & Medicaid Services – March 9, 2018

Here’s the CMS flow chart for state-by-state distribution of the new Medicare cards. Additional details on timing will be available as the mailings progress.There are exceptions to the new cards: beneficiaries enrolled in a Medicare Advantage plan will continue to use M/A’s ID card as their main card for Medicare (those cards already have a unique ID number that is not the Social Security number.) Also, Part D beneficiaries will continue to use their own cards.

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Florida Top State for Med Supp Sales

Couple laughing with agent sitting at table in homeBy AAMSI – March 9, 2018

Florida has more residents covered by a Medicare Supplement insurance policy than any other state, according to the American Association for Medicare Supplement Insurance, using data from the National Association of Insurance Commissioners, which gathers information from insurers that offer Medicare products. The top states are Florida, Texas, Illinois, Pennsylvania and California.

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Life Insurance Saw Slight Increase in 2017

By LIMRA – March 13, 2018Family life insurance money protection

Strong sales of Indexed Universal Life kept the broader life insurance market in positive territory last year, despite struggling Universal Life and Whole Life sales, LIMRA reported. Total life insurance new annualized premium increased 1% in 2017, compared to 2016 results; this was the fourth year of growth in premium insurance.

Policy count fell 1% in Q4, down 3% for 2017. In Q4, whole life new premium fell 4%, and was flat for the year. Whole life represented 35% of the total life insurance market in 2017. Universal life premium dropped 4% in the Q4, but remained 1% higher than 2016 sales. IUL rose 9% in Q4, experiencing the largest growth in absolute dollars. For the year, IUL was up 8%.

U.S Individual Life Insurance Growth Rates By Product 2016-2017

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Insurers Now Partnering with Pharmacies

Months of mergers and acquisitions – will they bring down costs?

By InsuranceNewsNet – March 12, 2018Medicine, pharmaceutics, health care and people concept - Happy senior male customer buying medications at drugstore

Health care spending is inexorably rising, accounting for an estimated 18% of the U.S. economy last year. Under pressure to tame ever-increasing health-care costs, the companies that help millions of Americans manage their medical care are wagering they can be stronger and simpler by joining forces.

Insurers, drug-benefit managers, drug distributors, pharmacies and large medical groups all get a cut of the profits from caring for patients. Bringing more of those businesses under one roof might help streamline some of those costs and improve care … at least in theory.

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