2Q Indexed Life Sales Rocket To Near Record Highs – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Top Stories
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
INN Exclusives
Top Stories RSS Get our newsletter
Order Prints
August 29, 2018 Top Stories No comments
Share
Share
Tweet
Email

2Q Indexed Life Sales Rocket To Near Record Highs

InsuranceNewsNet

Indexed life sales for the second quarter were $552.7 million; up more than 13.6 percent when compared with the prior quarter, and up over 13.9 percent compared to the same period last year.

“This was the second-highest quarter ever for indexed life insurance sales,” said Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. "If you thought the close of last year’s sales were impressive, you need to see the products that are being sold today— they are definitely going to drive us to record-breaking sales this year.”

Items of interest in the indexed life market included Pacific Life Companies retaining the No. 1 ranking in indexed life sales, with a 16.5 percent market share. National Life Group, Transamerica, Minnesota Life-Securian, and Nationwide concluded the top five sellers, respectively.

Indexed life sales shot up in the second quarter. (Source: Wink’s Sales & Market Report)

Pacific Life’s Pacific Discovery Xelerator IUL was the No. 1 selling indexed life insurance product, for all channels combined, for the quarter. The top pricing objective for sales this quarter was Cash Accumulation, capturing 82.6 percent of sales.

The average indexed life target premium reported for the quarter was $8,869, a decline of nearly 4 percent as compared to the prior quarter.

Non-Variable UL Up And Down

Non-variable universal life sales for the second quarter were more than $958.1 million -- up more than 9 percent compared to the previous quarter and down more than 2.2% as compared to the same period last year.

Non-variable universal life sales include both indexed UL and fixed UL product sales.

Noteworthy highlights for total non-variable universal life sales in the second quarter included Pacific Life Companies retaining their rank as the No. 1 company overall for non-variable universal life sales, with a market share of 9.8 percent.

Pacific Life’s Pacific Discovery Xelerator IUL was the No. 1 selling product for non-variable universal life sales, for all channels combined, in the second quarter.

Non-variable universal life sales were both up and down in the second quarter. (source: Wink’s Sales & Market Report)

Fixed UL second quarter sales were $406.7 million. Noteworthy highlights for fixed universal life in the second quarter include the top pricing objective of No Lapse Guarantee, capturing 63.8 percent of sales. The average UL target premium reported for the quarter was $5,021, a decline of 2 percent from the prior quarter.

Universal life sales rebounded slightly (Source: Wink’s Sales & Market Report)

Whole Life Steady

Whole life second-quarter sales were $1.1 billion. Items of interest in the whole life market included the top pricing objective of Cash Accumulation capturing 72.7 percent of sales.

The average annual premium per whole life policy reported for the quarter was $3,296, an increase of less than 1 percent from the prior quarter.

Whole Life showed a slight increase in the second quarter. (Source: Wink’s Sales & Market Report)

Wink is focusing on increasing participation with their current product lines of indexed universal life, traditional universal life, indexed whole life, and traditional whole life product sales. Additional product lines, such as term life insurance, will be added to Wink’s Sales & Market Report in upcoming quarters.

Older

Lincoln Steers Annuity Distribution Into IMO Channel With New Deal

Newer

2Q Individual Life Insurance New Premium Grows At 2%

Advisor News

  • U.S. markets close flat as more positive inflation data rolls in
  • 69% of Americans concerned about their current financial situation
  • Expand your Social Security knowledge with these four terms
  • FINANCIAL FOCUS: Are you properly insured?
  • Liz Weston: 3 ways to fight inflation and win the long game
More Advisor News

Annuity News

  • National Western Life introduces new fixed indexed annuity, NWL New Frontiers
  • Jackson National announces second quarter 2022 results
  • Brighthouse Financial adds to Shield Level annuity suite with new product
  • Prudential FlexGuard reaches $10B total sales milestone at record pace
  • Retirees can rely on annuities as a source of guaranteed income for life
More Annuity News

Health/Employee Benefits News

  • UnitedHealthcare introduces new business unit Surest
  • Texas lawmakers ask feds to reconsider Medicaid expansion proposal
  • Plan to help poor Mississippians with health insurance stripped from latest federal bill
  • Giannis Antetokounmpo invests in telehealth company
  • Drug companies are warning that pricing reform spells doom. Don't fall for it
More Health/Employee Benefits News

Life Insurance

  • Alex Murdaugh petitions to delay Mallory Beach trial amid murder charges
  • Sales of life combination products rebound in 2021, LIMRA reports
  • Integrity Marketing Group acquires Richman Insurance Agency
  • How to get the most out of Life Insurance Awareness Month
  • Life application activity down in July, MIB Index reports
More Life Insurance

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

Get Linked INN to your industry Connect with INN on LinkedIn to be first on all the news and insights that matter to your industry.

Press ReleasesAll press releases

  • National Western Life introduces newest fixed indexed annuity, NWL® New Frontiers
  • CybeReady Supports Security Defenses with CISO Toolkit
  • Life and Disability Income Insurance Products from MassMutual Now Available on iPipeline®’s End-to-End Digital Platform
  • Business on the Go with The Crump Mobile App
  • iPipeline® Provides Advisors Excel with Unified Path Toward Accessing Core Data Analytics in Financial Services
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.