{"id":17722,"date":"2019-12-04T14:15:22","date_gmt":"2019-12-04T19:15:22","guid":{"rendered":"https:\/\/insurancenewsnet.com\/?post_type=innarticle&amp;p=4910999"},"modified":"2019-12-04T14:15:22","modified_gmt":"2019-12-04T19:15:22","slug":"limra-3q-life-insurance-sales-driven-by-7-bump-in-iul","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/12\/04\/limra-3q-life-insurance-sales-driven-by-7-bump-in-iul\/","title":{"rendered":"LIMRA: 3Q Life Insurance Sales Driven By 7% Bump In IUL"},"content":{"rendered":"<br \/>\n<figure class=\"featured-image left pull-box small pull-box hide-md hide-sm\"><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, but profits are still being made.<\/figcaption><\/figure>\n<div class=\"article-content\">\n<div>\n<div>\n<p>Total U.S. individual life insurance new annualized premium increased 2% in the third quarter, compared with prior year results, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey.<\/p>\n<p>Year-to-date total individual life insurance new annualized premium rose 1%, compared with results from the first nine months of 2018. The number of policies sold fell 3% in the third quarter and year to date.<\/p>\n<p>\u201cIndexed universal life (IUL) continued to drive overall new premium growth. In fact, IUL has been the biggest contributor to individual life insurance premium sales growth for 9 of the last 10 quarters. IUL sales climbed 7% for the quarter and the year so far, with half of the companies reporting increases,\u201d said Ashley Durham, associate research director, LIMRA Insurance Research. \u201cIUL represented one quarter (25%) of the individual life insurance premium sold during the first nine months of 2019.\u201d<\/p>\n<p>Universal life (UL) new annualized premium rose 2% in the third quarter, however, UL new premium remained flat in the first nine months of the year, compared to prior year. Total UL market share was 36% year to date, LIMRA reported.<\/p>\n<h2>Fixed UL In Decline<\/h2>\n<p>Fixed UL declined 7% in the third quarter and 11% year to date. This is the 10th consecutive quarter of declines for fixed UL products, LIMRA said.<\/p>\n<p>Fixed UL products with lifetime guarantees fell 15%, current-assumption fixed UL dropped 16%, and accumulation-fixed UL product premium fell 22%, compared with third quarter 2018 results.<\/p>\n<p>Variable UL (VUL) new premium increased 2% in the third quarter, year-over-year. This is the 8th consecutive quarter of increases, compared with prior year results. Protection-focused VUL new premium improved 8%, driving overall VUL growth in the third quarter.<\/p>\n<p>Accumulation-focused VUL new premium fell 3% in the third quarter. Despite the growth, only 3 in 10 VUL writers reported increases in new premium in the third quarter.<\/p>\n<p>Year to date, VUL new premium grew 7%. For the first nine months of 2019, VUL held 7% of the total U.S. individual life insurance market.<\/p>\n<p>Whole Life (WL) new annualized premium was flat in the third quarter and year to date. While only about a third of whole life manufacturers reported growth this quarter, 1 in 5 manufacturers reported double-digit increases. In the first nine months of 2019, WL premium represented 35% of the total life insurance market.<\/p>\n<p>Term life insurance new premium grew 3% in the third quarter and 2% year to date, compared with 2018 results. More than half of the term manufacturers (55 percent) reported increases in new premium. Term life market share remained at 22% through third quarter 2019.<\/p>\n<p>LIMRA\u2019s Third Quarter 2019 U.S. Individual Life Insurance Sales Survey represents approximately 80% of the U.S. individual life insurance annualized premium market.<\/p>\n<\/p><\/div>\n<\/div>\n<\/div>\n<p> <a href=\"https:\/\/insurancenewsnet.com\/innarticle\/limra-3q-life-insurance-sales-driven-by-7-bump-in-iul?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=limra-3q-life-insurance-sales-driven-by-7-bump-in-iul\">Read the original article at insurancenewsnet.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Life insurance sales are stagnant, but profits are still being made. Total U.S. individual life insurance new annualized premium increased 2% in the third quarter, compared with prior year results, according to the LIMRA&#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\/17722"}],"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=17722"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17722\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=17722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=17722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=17722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}