Total individual life insurance new annualized premium grew 6 percent in 2012—marking the third straight year of growth, LIMRA reported Thursday.
Total individual life premium grew 12 percent in the fourth quarter, the largest growth recorded since the downturn. The number of life insurance policies sold grew 1 percent for the year, making 2012 the second consecutive year of positive annual policy growth, the research and consulting firm said.
The last time individual policy count increased two years in a row was in 1980-1981, when policy count grew 3 and 7 percent, respectively.
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