{"id":15060,"date":"2019-05-30T13:27:11","date_gmt":"2019-05-30T17:27:11","guid":{"rendered":"https:\/\/insurancenewsnet.com\/?post_type=innarticle&amp;p=4123668"},"modified":"2019-05-30T13:27:11","modified_gmt":"2019-05-30T17:27:11","slug":"1q-delivers-sluggish-growth-for-life-insurance-new-premium","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/05\/30\/1q-delivers-sluggish-growth-for-life-insurance-new-premium\/","title":{"rendered":"1Q Delivers Sluggish Growth For Life Insurance New Premium"},"content":{"rendered":"<br \/>\n<figure class=\"featured-image left pull-box small pull-box hide-md hide-sm\">\n<img decoding=\"async\" loading=\"lazy\" width=\"840\" height=\"560\" src=\"https:\/\/insurancenewsnet.com\/wp-content\/uploads\/2019\/03\/AdobeStock_125399939-840x560.jpeg\" class=\"attachment-medium-thumb-post size-medium-thumb-post wp-post-image\" alt><figcaption class=\"text-left\">Life insurance sales are stagnant.<\/figcaption><\/figure>\n<div class=\"article-content\">\n<div itemscope itemtype=\"http:\/\/schema.org\/Article\"> <span><\/p>\n<p> <span><\/p>\n<p><\/span> <\/p>\n<p><\/span> <span><br \/>\n <span><\/p>\n<p><\/span><br \/>\n<\/span> <\/p>\n<p> <span><\/p>\n<p><\/span> <\/p>\n<div>\n<p><strong>From Staff Reports<\/strong><\/p>\n<p>U.S. Individual life insurance new annualized premium increased just 1% in first quarter 2019, compared to first quarter 2018, according to LIMRA\u2019s U.S. Individual Life Insurance Sales Survey.<\/p>\n<p>The total number of individual life insurance policies sold in the first quarter decreased 3%, compared with the same quarter of the prior year.<\/p>\n<p>Universal life (UL) new annualized premium was flat in the first quarter. This was primarily driven by the 15% decrease in fixed UL sales.<\/p>\n<p>Lifetime guarantee UL (LTGUL) new premium fell 12%, compared with prior year. This is the eighth consecutive quarter of declines for this product. LTGUL represented 15% of total UL sales and 5% of total life premiums in the first quarter.<\/p>\n<p>Indexed universal life (IUL) new annualized premium grew 9% in the first quarter. This is the 10th consecutive quarter of growth for IUL. In the first quarter, IUL represented 68% of UL and 24% of all individual life premium.<\/p>\n<p>Total UL premium represented 36% of all life insurance premium sold in the first quarter 2019.<\/p>\n<p>Whole life (WL) new annualized premium dropped 1% in the first quarter, compared with prior year. Half of the WL writers, including half of the top 10 WL carriers, reported declines for this quarter. WL premium represents 36% of the total individual life insurance market.<\/p>\n<p>Variable universal life (VUL) new annualized premium rose 12% in the first quarter. While the protection-focused VUL products contributed to most of this growth, accumulation-focused VUL products experienced an increase as well. This is the sixth consecutive quarter of increases to VUL. VUL holds 6% market share of total life insurance sales in the first quarter.<\/p>\n<p>Term life insurance new annualized premium grew 2% compared to first quarter 2018. Half of term writers and seven of the top 10 recorded increases in the first quarter. Term\u2019s market share is 22%. Term life insurance market share has been in the 20-22% range since 2011.<\/p>\n<p>LIMRA\u2019s Individual Life Insurance Sales Survey represents approximately 80% of the U.S. individual life insurance annualized premium market.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p> <a href=\"https:\/\/insurancenewsnet.com\/innarticle\/1q-delivers-sluggish-growth-for-life-insurance-new-premium\">Read the original article at insurancenewsnet.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Life insurance sales are stagnant. From Staff Reports U.S. Individual life insurance new annualized premium increased just 1% in first quarter 2019, compared to first quarter 2018, according to LIMRA\u2019s U.S. Individual Life Insurance&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15060"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=15060"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15060\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=15060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=15060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=15060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}