whole life
Life combination products: 56% growth in 2011Posted by RJ and Makay on May 22, 2012 |
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Life combination products grew by 56% in 2011, the third consecutive year of double-digit growth, according to LIMRA’s 2011 Individual Life Combination Products Annual Review. Life combination products total new premium reached $2.2 billion in 2011, representing about 13% of total individual life insurance new premium. Last year, more than 72,000 combination policies were sold, representing approximately 16% of all long-term care insurance policies and contracts.
Total individual life insurance sales for 2011 increased 4% in new annualized premium, the second consecutive year of growth, according to the Life Insurance and Market Research Association (LIMRA). Fourth quarter 2011 life insurance premiums rose 2% from Q4 2010. For all of 2011, companies issued 2% more individual life policies than in 2010.
Total sales of individual life insurance in the U.S., measured by new annualized premium, rose 8% in the first quarter of 2011 from the same period a year ago, fueled largely by universal and whole life polices, according to the Life Insurance and Market Research Association (LIMRA). Universal life annualized premium grew 14% while policy count increased by 18%.
