Wink, Inc. Releases Fourth Quarter, 2021 Life Sales Results
March 8, 2022 by Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE
INDEXED LIFE SALES BRING ANOTHER RECORD-SETTING YEAR!
Wink, Inc. Releases Fourth Quarter, 2021 Life Sales Results
Des Moines, Iowa. March 3rd, 2022– Wink, Inc. released the fourth quarter, 2021 life sales results in its 98th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report is the insurance industry’s #1 resource for life insurance sales data, since 1997.
Non-variable universal life sales for the fourth quarter were $861.5 million; up 20.0% when compared to the previous quarter and up 16.25% as compared to the same period last year. Total 2021 non-variable universal life sales were $2.9 billion. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the fourth quarter included Pacific Life Companies with the #1 overall sales ranking for non-variable universal life sales, with a market share of 10.8%. Transamerica Life’s Transamerica Foundation IUL was the #1 selling product for non-variable universal life sales, for all channels combined.
Indexed life sales for the fourth quarter were $718.0 million, up more than 19.1% when compared with the previous quarter, and up more than 15.5% as compared to the same period last year. This was a record-setting year for indexed life sales, with the total 2021 indexed life sales hitting 2.4 billion. Indexed life sales include both indexed UL and indexed whole life. “It is great to see indexed life setting sales records again” exclaimed Sheryl J. Moore, CEO of both Moore Market Intelligence and Wink, Inc. “The challenges of constant regulatory changes seem to be in the rearview mirror (for now).”
Items of interest in the indexed life market included National Life Group with the #1 ranking in indexed life sales, with a 12.7% market share. Pacific Life Companies, Nationwide, Transamerica, and John Hancock rounded out the top five, respectively.
Transamerica Life’s Transamerica Foundation IUL was the #1 selling indexed life insurance product, for all channels combined. The top pricing objective for sales this quarter was Cash Accumulation, capturing 79.6% of sales. The average indexed life target premium for the quarter was $11,868 an increase of more than 5.0% from the prior quarter.
Fixed UL sales for the fourth quarter were $143.74 million, up 24.4% when compared to the previous quarter and up 19.7% as compared to the same period last year. Total 2021 whole life sales were $522.4 million. Noteworthy highlights for fixed universal life included the top pricing objective of No Lapse Guarantee capturing 46.1% of sales. The average UL target premium for the quarter was $5,776; an increase of nearly 8.0% from the prior quarter.
Whole life fourth quarter sales were $1.5 billion, up 36.7% when compared with the previous quarter, and up 45.5% as compared to the same period last year. Total 2021 whole life sales were $4.8 billion. Items of interest in the whole life market included the top pricing objective of Final Expense capturing 41.0% of sales. The average premium per whole life policy for the quarter was $3,690, an increase of nearly 19.0% from the prior quarter. Moore commented, “It isn’t surprising to see whole life sales fare so well, given that less than 20% of the market had sales declines, and more than half of the market experienced double-digit gains in 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 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 a 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, 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.
March 3, 2022
Des Moines, IA
(855) ASK-WINK
