Wink, Inc. Releases First Quarter, 2019 Life Sales Results
May 28, 2019 by Press Release
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NEWS RELEASE
A SLOW START TO 2019 FOR LIFE SALES
Wink, Inc. Releases First Quarter, 2019 Life Sales Results
Des Moines, Iowa. May 24, 2019– Wink, Inc. released first quarter, 2019 life sales results in its 87th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed life insurance sales data since 1997, expanded in 2017 to include fixed universal life (UL) and whole life product lines.
Non-variable universal life sales for the first quarter were over $768.2 million; down 20.4% when compared to the previous quarter and down nearly 13.0% as compared to the same period last year. Non-variable universal life sales include both indexed UL and fixed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the first quarter included National Life Group taking over as the #1 company, overall, for non-variable universal life sales with a market share of 9.5%. Pacific Life’s Pacific Discovery Xelerator IUL was the #1 selling product for non-variable universal life sales, for all channels combined, for the seventh consecutive quarter.
Indexed life sales for the first quarter were $491.7 million, down more than 20.3% when compared with the prior quarter, and up over 1.1% as compared to the same period last year. “The 2017 CSO requirements are hitting everyone hard.” declared Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc. She continued “If companies’ sales aren’t down because their field force isn’t up-to-date on their reprice for the new mortality tables, they are down because they are too busy working on new products to focus on sales.”
Items of interest in the indexed life market included National Life Group moving into the #1 ranking in indexed life sales, with a 14.5% market share. Pacific Life Companies, Transamerica, Nationwide, and Allianz Life rounded-out the top five, respectively.
Pacific Life’s Pacific Discovery Xelerator IUL was the #1 selling indexed life insurance product, for all channels combined, for the seventh consecutive quarter. The top pricing objective for sales this quarter was Cash Accumulation, capturing 75.2% of sales. The average indexed life target premium for the quarter was $8,900, a decline of more than 9.0% from the prior quarter.
Fixed UL first quarter sales were $277.4 million, down 20.5% when compared with the previous quarter and down more than 29.4% as compared to the same period last year. Noteworthy highlights for fixed universal life in the first quarter included the top pricing objective of No Lapse Guarantee capturing 67.8% of sales. In addition, the average UL target premium for the quarter was $4,377, a decline of more than 20.0% from the prior quarter.
Whole life first quarter sales were $1.0 billion; down more than 17.4% when compared with the prior quarter, and down 3.7% as compared to the same period last year. Items of interest in the whole life market included the top pricing objective of Cash Accumulation capturing 67.0% of sales. The average premium per whole life policy for the quarter was $2,815, a decline of more than 24.0% from the prior quarter.
Wink is focusing on increasing participation with their current product lines of indexed universal life, traditional universal life, indexed whole life, and traditional whole life product sales. Additional product lines, such as term life insurance, will be added to Wink’s Sales & Market Report in upcoming quarters.
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For more information, go to www.WinkIntel.com
Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.WinkIntel.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all fixed deferred annuity products in 2015 and all non-variable cash value life insurance products in 2017.
The staff of Wink, Inc. has the combined experience of more than 175 years working with insurance products. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.
Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.
May 24, 2019
Des Moines, IA
(855) ASK-WINK
