New life insurance premium up 11% over first half of 2022, LIMRA finds
September 20, 2022 by Staff Reports
Total U.S. life insurance new annualized premium increased 6% in the second quarter 2022, the sixth consecutive quarter of premium growth, according to LIMRA’s Second Quarter 2022 U.S. Retail Life Insurance Sales Survey.
In the first six months of 2022, new premium was 11% higher than the same period in 2021.
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Wink’s Note: View the 2nd Quarter, 2022 Wink’s Sales & Market Report, Click HERE
Wink tracks Target Premium. Nearly all agents ensure that flexible premium adjustable life insurance contracts are funded at target: this is the amount that the agent is paid full commission on. The reasons that we track target premium, as opposed to another metric, on Universal Life products are numerous. At the top of the list is the fact that different product objectives lend differently to varying funding levels. While it is true that many products are funded at more than target, we find it disingenuous to force premium-to-endow sales and ENLG sales to be judged on a comparable basis as CAUL sales when this level is greater than target.
