Final Expense Premium Up 4%

 Happy couple being attended by an agent at officeBy InsuranceNewsNet – July 12, 2018

Final expense life insurance new annualized premium increased 4% in 2017, compared to 2016 results, according to a Life Insurers Council/Competiscan study. Sales for final expense sold through IMOs continue to be a strong source of growth – 89% of all new premium were sold through independent distribution, according to the LIC. The most common way people said they would prefer to buy the insurance is through an agent or advisor (47%); 32% said they would prefer to buy online from a website.

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Insurers Bolstering Indexed Life

Younger family taking a family selfie. By Cyril Tuohy – InsuranceNewsNet – June 19, 2018

Q1 sales of indexed universal life rose 12% to $486 million compared to the year-ago period, and life insurers are wasting no time tweaking their IUL line-ups to take advantage of the fast-selling segment. Rising interest rates help insurers boost the generosity of the benefits available with life insurance contracts, and industry analysts expect more companies to join the IUL market. Here are a number of recent developments in accumulation-focused IULs from insurers Ameritas, Lincoln and John Hancock:

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Indexed, Whole Life Insurance Sales Rise

Senior Couple Walking With Pet Bulldog In CountrysideBy Allison BellThinkAdvisor – June 13, 2018

Indexed life insurance sales increased to $486 million for Q1 2018, up 11% from the total for Q1 2017, according to Wink. The combined sales total for indexed universal life and traditional universal life increased 1.6%.

 

 

Indexed Life Sales By Quarter 

Indexed Life Sales By Quarter 

Sales of whole life increased 11%, to $1.1 billion. In the whole life market, the average premium was $3,282 per quarter, and 74% of the sales were for products that had cash accumulation as the primary pricing objective.

Whole Life Sales by Quarter 

Whole Life Sales by Quarter

Universal Life Sales by Quarter

Indexed Life Sales By Quarter 

Click to continue to article… based on WINK REPORT (includes top carriers, products, and premiums)

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