New annualized life insurance premium dips in Q1, LIMRA reports
May 21, 2024 by LIMRA
Total individual life insurance new annualized premium slipped 1% year over year to $3.76 billion in the first quarter, according to LIMRA’s preliminary U.S. Life Insurance Sales Survey.
The total number of policies sold also dropped 1% in the first quarter. The decline doesn’t mean a lack of positive news within the numbers, said John Carroll senior vice president, head of Life & Annuities, LIMRA and LOMA.
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Wink’s Note: For a deep-dive into life insurance sales and market trends, Wink’s Sales & Market Report, 1st Quarter, 2024 will be released by the end of May. Wink tracks target premium on all universal life products. The report includes quarter sales for all universal life product lines including traditional fixed, indexed, structured and variable universal life. Also for whole life lines including interest-sensitive and indexed whole life.
