Wink, Inc. Releases Third Quarter, 2019 Life Sales Results
November 27, 2019 by Press Release
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NEWS RELEASE
LOW RATES AND REGULATION HURT LIFE INSURANCE SALES
Wink, Inc. Releases Third Quarter, 2019 Life Sales Results
Des Moines, Iowa. November 27, 2019– Wink, Inc. released third quarter, 2019 life sales results in its 89th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, the insurance industry’s #1 resource for life insurance sales data since 1997.
Non-variable universal life sales for the third quarter were over $816.1 million; down 5.2% when compared to the previous quarter and down 6.7% 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 third quarter included Pacific Life Companies retaining the #1 ranking overall for non-variable universal life sales, with a market share of 10.7%. Pacific Life Pacific Discovery Xelerator IUL 2 was the #1 selling product for non-variable universal life sales, for all channels combined.
Indexed life sales for the third quarter were $529.1 million, down 4.2% when compared with the prior quarter, and down more than 0.1% as compared to the same period last year. Indexed life sales include both indexed UL and indexed whole life. “While third quarter is typically a crummy quarter for life sales, this one was particularly challenging. It is going to be interesting to see how pending regulation on AG49 will affect indexed life sales next year.”
Items of interest in the indexed life market included Pacific Life Companies retaining the #1 ranking in indexed life sales, with a 16.0% market share. National Life Group, Transamerica, Lincoln National Life, and Nationwide rounded-out the top five, respectively.
Pacific Life Pacific Discovery Xelerator IUL 2 was the #1 selling indexed life insurance product, for all channels combined. The top pricing objective for sales this quarter was Cash Accumulation, capturing 76.6% of sales. The average indexed life target premium for the quarter $13,374, an increase of nearly 35% from the prior quarter.
Fixed UL third quarter sales were $287.7 million, down 7.2% when compared with the previous quarter and down 17.0% as compared to the same period last year. Noteworthy highlights for fixed universal life in the third quarter included the top pricing objective of No Lapse Guarantee capturing 68.0% of sales. In addition, the average UL target premium for the quarter was $4,255, a decline of 23% from the prior quarter.
Whole life third quarter sales were over $1.1 billion, down 0.5% when compared with the prior quarter, and up 7.2% 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 74.3% of sales. The average premium per whole life policy for the quarter was $2,901, a decline of 6% from the prior quarter. “I am anticipating that the fourth quarter will be stronger for all life insurance sales,” said Moore. “With all the old products for PBR and 2001 CSO sunsetting, along with salespeople’s’ efforts to qualify for production bonuses and incentives, the last leg of the year should yield strong life sales.”
Wink currently reports on indexed universal life, indexed whole life, universal life, whole life and all deferred annuity lines’ product sales. Sales reporting on additional product lines will follow at some point in the future.
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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 deferred annuity products in 2015, all deferred variable annuity products in 2019 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, more than a decade of which is specific to competitive intelligence. 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.
November 27, 2019
Des Moines, IA
(855) ASK-WINK
