Total U.S. life insurance new annualized premium increased 6% in the second quarter 2022, the sixth consecutive quarter of premium growth, according to LIMRA’s Second Quarter 2022 U.S. Retail Life Insurance Sales Survey. In the first six months of 2022, new premium was 11% higher than the same period in 2021. “Strong indexed universal life… Continue reading Life Insurance New Annualized Premium Growth Continues in 2Q 2022: LIMRA
Tag: LIMRA
LIMRA Predicts Steady Growth in Annuity Sales as Number of Retirees Expands
Despite the continued challenges resulting from the COVID-19 pandemic, the annuity industry rebounded strongly — with first quarter 2022 seeing total U.S. annuity sales increase 4% to $63.3 billion. LIMRA expects this momentum to continue through the next several years. “The outlook for rising interest rates and fairly level equity markets will have investors continuing… Continue reading LIMRA Predicts Steady Growth in Annuity Sales as Number of Retirees Expands
Verisk and LIMRA Partner to Combat Fraud, Financial Crimes in Life Insurance, Annuity and Retirement Markets
LIMRA and Verisk are collaborating to provide greater capabilities to insurers and recordkeepers to help them combat fraud and financial criminal attacks on their customers, leveraging the unique strengths of the two organizations. FraudShare, LIMRA’s most recent industry solution developed in collaboration with its members to address common industry challenges, assists leading financial services firms… Continue reading Verisk and LIMRA Partner to Combat Fraud, Financial Crimes in Life Insurance, Annuity and Retirement Markets
U.S. Life Insurance Sales Rise on Covid-19 Fears
Americans went on a life insurance buying spree in 2021, fueled by fears of death from the ongoing coronavirus pandemic. According to industry-funded research firm Limra, premium volume for new individual life-insurance policies increased by 20% compared to 2020, while the number of policies issued increased by 5%, the largest year-over-year percentage gains since the… Continue reading U.S. Life Insurance Sales Rise on Covid-19 Fears
Death-Benefits Payments Jumped 15% Last Year Amid COVID-19
According to the American Council of Life Insurers (ACLI), the Covid-19 pandemic last year resulted in the largest increase in death benefits paid by U.S. life insurers since the 1918 influenza epidemic. ACLI said that death-benefit payments increased 15.4 percent in 2020 to $90.43 billion, owing primarily to the pandemic. Payments increased by 41% in… Continue reading Death-Benefits Payments Jumped 15% Last Year Amid COVID-19
LIMRA: First Quarter U.S. Life Insurance Policy Sales Highest Since 1983
Total individual life insurance policy sales increased 11% in the first quarter, compared with first quarter 2020. This is the highest growth in the number of policies sold in a quarter since 1983. New annualized premium also experienced significant growth, up 15% from prior year, according to LIMRA’s First Quarter U.S. Individual Life Insurance Sales… Continue reading LIMRA: First Quarter U.S. Life Insurance Policy Sales Highest Since 1983