By LIMRA – March 13, 2018
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%.
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