New York Life Insurance, the largest mutual life insurer in the United States, announced Wednesday strong second quarter gains in sales of life insurance, income annuities and mutual funds, as well as a solid increase in field force new hires in the first half of 2011.
Individual life insurance sales increased 13 percent through June compared with the first six months of 2010. That growth is being driven by agents, the company says, as sales through the company's national field force is up 15 percent from 2010.
The company's custom whole life product, a form of whole life that allows consumers to choose how long they pay premiums, continues as the most popular whole life product with a sales increase of 21 percent over the same period last year.
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