Individual life insurance premium up slightly for first half of 2016
August 29, 2016 by LIMRA
Individual life insurance new annualized premium increased 2 percent for the first half of 2016, compared with the first six months of 2015. In the second quarter, new annualized premium was flat, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey.
“A 7 percent decline in indexed universal life (IUL) stifled overallindividual life insurance sales and as a result, sales in the second quarter were level with prior year. This is just the second time IUL premium has dropped in a quarter over the last 10 years,” said Ashley Durham, associate research director, LIMRA Insurance Research. “LIMRA attributes much of the decline to the recent illustration regulation, Actuarial Guideline 49, which went into effect in September 2015.” Click HERE to read the full article. Lifehealthpro articles require free registration to view.
