Total individual life insurance new annualized premium increased 4 percent in the first half of 2011, according to LIMRA's U.S. Individual Life Insurance Sales report.
"Overall, individual life insurance sales slowed from first quarter, but still remained positive with premium and policy count up one percent compared with second quarter 2010," says Ashley Durham, a LIMRA senior analyst. "Part of the slowdown in growth is a reflection of a few companies moving away from lifetime death benefit guarantee universal life products."
Annualized premium sales for death benefit guarantee UL products were three percent lower than they were during 2010's second quarter, and level in the first half of the 2011. Still, these products held 45 percent of UL market share through the second quarter.
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