Roughly 60 percent of insurance executives responding to a recent LIMRA survey believe individual life insurance sales will remain flat and 68 percent predict group life sales will stall in 2011.
"Generally speaking, significant growth in life insurance sales is driven by new products in the market," said Robert Baranoff, LIMRA senior vice president and co-author of the report. "While overall sales may not substantially grow in 2011, LIMRA predicts that certain products will stand out in this low-interest environment. "
A third of executives rallied over indexed insurance products in the survey, conducted in late December, and believed they had the most growth potential in 2011. According to LIMRA, the resolution of 151A, as well as low interest rates make indexed life insurance more attractive to producers and has more carriers entering the market.
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