Life insurance premiums fall
Thursday, Mar 05,2009, 1:12:41 PM Click:
Life insurance premiums fall
Matt Ackermann
Premiums for new individual life insurance fell by 11% on an annual basis in the third quarter, according to Limra most recent sales report.
After seven consecutive years of growth, the premium universal life "experienced a significant decline in 2008," according to the Windsor, Connecticut, trade group. These premiums fell 12% in third quarter the previous year and 2% in the first three quarters of the year. Apparently term sales are holding their own, new premiums have been stable in the third quarter and fell by 1% for the first three quarters of year.
Approximately 45% of the writers say they have increased their turnover in the first nine months of last year, according to Limra.
The sales of whole life has increased by 7% in the third quarter and 2% in the first three quarters of this year.
Matt Ackermann
Premiums for new individual life insurance fell by 11% on an annual basis in the third quarter, according to Limra most recent sales report.
After seven consecutive years of growth, the premium universal life "experienced a significant decline in 2008," according to the Windsor, Connecticut, trade group. These premiums fell 12% in third quarter the previous year and 2% in the first three quarters of the year. Apparently term sales are holding their own, new premiums have been stable in the third quarter and fell by 1% for the first three quarters of year.
Approximately 45% of the writers say they have increased their turnover in the first nine months of last year, according to Limra.
The sales of whole life has increased by 7% in the third quarter and 2% in the first three quarters of this year.
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