SECOND QUARTER 2019 LIFE INSURANCE SALES
August 30, 2019 by Sheryl J. Moore
Non-Variable UL
Total 2Q2019 non-variable universal life sales were $860,195,968. Second quarter non-variable life sales were up more than 12% when compared to the previous quarter and down more than 10% as compared to the same period last year.
Indexed Life
Sales for the second quarter of 2019 were $551 million, compared with sales of $552 million for the second quarter of 2018. Second quarter indexed life sales were up more than 12% when compared with the previous quarter, and down less than 1% as compared to the same period last year.
Total 2Q2019 indexed life sales were $551,040,818.
THE TOP FIVE INDEXED LIFE CARRIERS FOR THE SECOND QUARTER OF 2019:
1. Pacific Life Companies
2. National Life Group
3. Transamerica
4. Nationwide
5. Global Atlantic Financial Group
AVERAGE TARGET PREMIUM:
The average target premium paid was $9,923 an increase of nearly 12% from the prior quarter.
Primary Pricing objective:
Over 75% of sales were through products with a primary pricing objective of Cash Accumulation.
1st QUARTER LEADERS BY CHANNEL:
Bank- Pacific Life Companies
Career- AXA US
Direct Response- AIG
Independent Agent- Pacific Life Companies
Independent Broker Dealer- Protective Life Companies
National Broker Dealer- Nationwide
1st QUARTER TOP SELLING PRODUCTS BY CHANNEL:
Overall- Transamerica Premier Financial Foundation IUL
Bank- Pacific Life Pacific Discovery Xelerator IUL
Career- Farm Bureau Life Foundations Indexed UL
Direct Response- American General Life AG Extend IUL
Independent Agent-Transamerica Premier Financial Foundation IUL
Independent Broker Dealer- Protective Life Protective Indexed Choice UL
National Broker Dealer- Nationwide Nationwide YourLife IUL Accumulator II
Universal Life
Sales for the second quarter of 2019 were $310 million, compared with sales of $406 million for the second quarter of 2018. Second quarter universal life sales were up more than 12% when compared with the previous quarter and down nearly 24% as compared to the same period last year.
Total 2Q2019 universal life sales were $310,307,203.
AVERAGE TARGET PREMIUM:
The average target premium paid was $5,550, an increase of nearly 27% from the prior quarter.
Primary Pricing Objective:
Over 65% of sales were through products with a primary pricing objective of No Lapse Guarantee.
Whole Life
Sales for the second quarter of 2019 were $1,179 million, compared with sales of $1,105 million for the second quarter of 2018. Second quarter whole life sales were up nearly 17% when compared with the previous quarter, and up nearly 7% as compared to the same period last year.
Total 2Q2019 whole life sales were $1,179,754,511.
AVERAGE Annual Premium:
The average annual whole life premium per policy reported for the quarter was $3,077, an increase of more than 9% from the prior quarter.
primary pricing objective:
Over 73% of sales were through products with a primary pricing objective of Cash Accumulation.
