The US life insurance coverage premium rose 1% in 2018, the contract is flat

Studies on the Sons

Complete New Annualized Premiums (Premiums) for Particular person Life Insurance coverage in the US Elevated 1% in 2018 In comparison with 2017 Outcomes, In keeping with the LIMRA Life Insurance coverage Gross sales Survey people in the US.

This represents the fifth 12 months of premium progress for US life insurance coverage.

The examine signifies that new premiums for the fourth quarter remained unchanged from the fourth quarter of 2017.
The variety of insurance policies remained unchanged within the fourth quarter and for the 12 months. That is the third consecutive quarter of no coverage and the second consecutive 12 months with out coverage progress.

"Variable Common Life (LCV) was the principle driver of progress within the fourth quarter of 2018," mentioned Ashley Durham, Deputy Analysis Director, LIMRA Insurance coverage Analysis. "The LCV premium for cover accounted for greater than half (53%) of the LCV market in 2018. That is the primary time that the market share of LCV merchandise targeted on safety exceeds product market share. targeted on accumulation. "

The brand new Variable Life UL Premium (ULV) elevated by 15% within the fourth quarter, pushed by protection-oriented product gross sales, which elevated by 67%. For the 12 months, the brand new LCV premium has elevated by 14%. Its market share within the general US client market was 7% in 2018, a slight enhance over the earlier 12 months.

The expansion in new premiums for all times (WL) remained steady within the fourth quarter and in 2018. This determine provides to flat gross sales in 2017 and represents solely the second 12 months with out constructive annual progress since 2006. Half of WL's authors, together with 4 of the highest 10 largest firms, declined gross sales in 2018. WL accounted for 35% of the US's whole life insurance coverage market in 2018.

Complete Common Life premiums decreased three% within the fourth quarter and decreased 1% in 2018 in comparison with the 2017 gross sales outcomes.

The brand new UL listed premium (IUL) elevated by four% within the fourth quarter and 9% over the 12 months in comparison with the outcomes of 2017. The IUL has been the principle driver of progress for the corporate. 39, entire 12 months.

For the 12 months, IUL accounted for 66% of UL's premium and 24% of all particular person life insurance coverage premiums. This exceeds all earlier ranges of IUL because the begin of the LIMRA assortment in 2006.

The brand new UL UL Lifetime Assure (LTG) dropped 20% within the fourth quarter, a seventh consecutive quarter of decline. Gross sales of those merchandise continued to be dragged down primarily by charge hikes. The 2018 outcomes for your complete LTG enterprise fell by 17% over the earlier 12 months. LTG UL held 16% of the non-residential insurance coverage market and 6% of the full US life insurance coverage market in 2018

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In 2017, UL premiums accounted for 37% of the US life insurance coverage market.

The brand new time period life insurance coverage premium elevated by 2% within the fourth quarter. For the 12 months, the time period improved by 1% over the earlier 12 months. Share held 21% of the full life insurance coverage market in 2018 since 2011. The market share of the time period life insurance coverage is between 21 and 22% since 2011.

LIMRA's US Fourth Quarter Particular person Life Insurance coverage Gross sales Survey in 2018 accounts for about 80% of the annualized premium marketplace for particular person life insurance coverage in the US.

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