Whole life lifts insurance sales in third quarter

Posted on: Wednesday, December 12, 2012

It appears more life insurance leads were converted into insurance sales in the year's penultimate quarter.

According to its Third Quarter 2012 Life Insurance Sales Survey, professional development organization LIMRA reports that total individual life insurance premiums increased 3 percent between July and September.

Ashley Durham, senior analyst of product research at LIMRA, indicated that life insurance has been able to weather the slings and arrows resulting from the down economy.

"Whole life and indexed universal life were the sales leaders in the third quarter," said Durham. "Both product lines have consistently performed well under challenging economic conditions because they offer consumers the opportunity for steady growth while protecting their principle from the prolonged market volatility."

Term life was not as popular as whole, with premiums falling 1 percent. LIMRA predicts, however, that the product offering may soon be of greater interest to insurance customers, especially in light of the unemployment level diminishing.

The Bureau of Labor Statistics recently reported that unemployment fell to a four-year low in November to 7.7 percent.

Posted In: Insurance News, Life Insurance

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