Tuesday, December 02, 2008
Life Sales Tumble - Down 11% in the Third Quarter, LIMRA Reports
New annualized premium for individual life insurance dropped 11 percent in the third quarter of 2008, according to LIMRA’s sales survey report.
“Variable life (VL) and variable universal life (VUL) products saw the steepest decline, plunging 33 percent for the quarter,” said Ashley Durham, LIMRA analyst for product research. “Given the current equity market environment, it’s not surprising that variable products took the biggest hit. Not only are individual VUL sales suffering, a number of companies have noted that corporate owned and private placement sales are much lower than they were this time last year.”
Life Sales Tumble - Down 11% in the Third Quarter, LIMRA Reports
Source: Insurance News Net
“Variable life (VL) and variable universal life (VUL) products saw the steepest decline, plunging 33 percent for the quarter,” said Ashley Durham, LIMRA analyst for product research. “Given the current equity market environment, it’s not surprising that variable products took the biggest hit. Not only are individual VUL sales suffering, a number of companies have noted that corporate owned and private placement sales are much lower than they were this time last year.”
Life Sales Tumble - Down 11% in the Third Quarter, LIMRA Reports
Source: Insurance News Net
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