For the year, life insurance policy sales were up 5%, which is the highest annual growth since 1983. With the exception of term sales, all major categories saw growth.
Non-variable universal life sales for the fourth quarter were $861.5 million, up 20% compared to the third quarter and 16.25% over 4Q 2021, according to Wink’s Sales & Market Report.
Famed recording star Elton John announced the Alliance for Lifetime Income as the presenting partner of his “2022 Farewell Yellow Brick Road Tour in North America.”
The DOL’s Investment Advice Rule, which takes full effect this week, broadens the agency interpretation of who is considered a fiduciary, which the lawsuit contends is contrary to an earlier decision of the Fifth Circuit Court of Appeals.
Total 2021 annuity sales were $254.8 billion, the highest annual annuity sales since 2008, according to preliminary results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey.
The study provides a revealing snapshot on where producers are two years into the COVID-19 pandemic, how the evolution with BGAs and IMOs is proceeding, and how recruitment of producers is going.
Alfredo Casas, 62, allegedly underreported payroll for his farm labor contracting business by over $1 million, resulting in a substantial loss to two insurance companies.
Women with children under 18 expressed the highest levels of financial stress at 50%, followed by non-retirees who were not working (44%), those under age 50 (42%), and those with household incomes under $50,000 (42%).
Total life insurance new annualized premium grew 18% in the third quarter, representing the third consecutive quarter of double-digit growth, according to LIMRA.
Third-quarter sales for all deferred annuities totaled $59.8 billion, a decrease of 7.1% compared to 2Q and an increase of 10.4% when compared to 3Q 2020, Wink reports.
Total U.S. annuity sales were $62.3 billion in the third quarter, up 12% from third quarter 2020. Year-to-date, annuity sales increased 19% to $191.4 billion, according to results from the Secure Retirement Institute.
Insurance Commissioner Ricardo Lara ordered insurance companies to preserve 209,881 residential property insurance policies held by wildfire survivors included in an October 22 emergency declaration.