SECOND QUARTER 2018 LIFE INSURANCE SALES
August 28, 2018 by Sheryl J. Moore
Indexed Life
Sales for the second quarter of 2018 were $552 million, compared with sales of $485 million for the second quarter of 2017. Second quarter indexed life sales were up nearly 14% when compared with the previous quarter, and up nearly 14% as compared to the same period last year as well.
Total 2Q2018 indexed life sales were $552,743,104.
THE TOP FIVE INDEXED LIFE CARRIERS FOR THE SECOND QUARTER OF 2018:
1. Pacific Life Companies
2. National Life Group
3. Transamerica
4. Minnesota Life-Securian
5. Nationwide
AVERAGE TARGET PREMIUM:
The average indexed UL target premium reported for the quarter was $8,869; a decline of nearly 4% from the prior quarter.
PRIMARY PRICING OBJECTIVE:
Nearly 83% of sales were through products with a primary pricing objective of Cash Accumulation.
2nd QUARTER LEADERS BY CHANNEL:
Bank- Pacific Life Companies
Career- RiverSource Life
Direct Response- AIG
Independent Agent- Pacific Life Companies
Independent Broker Dealer- Symetra Financial
National Broker Dealer– Nationwide
2nd QUARTER TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pacific Life Pacific Discovery Xelerator IUL
Bank- Pacific Life Pacific Discovery Xelerator IUL
Career- RiverSource Life RiverSource Multi-Index UL
Direct Response- American General Life AG Extend IUL
Independent Agent- Pacific Life Pacific Discovery Xelerator IUL
Independent Broker Dealer: Symetra Life Symetra Accumulator IUL
National Broker Dealer– Nationwide Nationwide YourLife IUL Accumulator
Universal Life
Sales for the second quarter of 2018 were $406 million, compared with sales of $496 million for the second quarter of 2017. Second quarter universal life sales were up more than 3% when compared with the previous quarter and down more than 18% as compared to the same period last year.
Total 2Q2018 universal life sales were $406,718,271.
AVERAGE TARGET PREMIUM:
The average universal life target premium reported for the quarter was $5,021; a decline of 2% from the prior quarter.
PRIMARY PRICING OBJECTIVE:
Nearly 64% of sales were through products with a primary pricing objective of No Lapse Guarantee.
Whole Life
Sales for the second quarter of 2018 were $1,120 million, compared with sales of $1,011 million for the second quarter of 2017. Second quarter whole life sales were up nearly 5% when compared with the previous quarter, and up nearly 11% as compared to the same period last year.
Total 2Q2018 whole life sales were $1,120,877,130.
AVERAGE Annual Premium:
The average annual whole life premium per policy reported for the quarter was $3,296; an increase of less than 1% from the prior quarter.
PRIMARY PRICING OBJECTIVE:
Nearly 73% of sales were through products with a primary pricing objective of Cash Accumulation.
