FOURTH QUARTER 2018 LIFE INSURANCE SALES
March 15, 2019 by Sheryl J. Moore
Indexed Life
Sales for the fourth quarter of 2018 were $617 million, compared with sales of $575 million for the fourth quarter of 2017. Fourth quarter indexed life sales were up nearly 17% when compared with the previous quarter, and up more than 7% when compared to the same period last year. This was a record-setting year for indexed life sales, topping the prior 2017 record by 10.64%.
Total 4Q2018 indexed life sales were $617,462,158.
Total 2018 indexed life sales were $2,185,024,851.
THE TOP FIVE INDEXED LIFE CARRIERS FOR THE FOURTH QUARTER OF 2018:
1. Pacific Life Companies
2. National Life Group
3. Transamerica
4. [Participant does not want their ranking published publicly]
5. Nationwide
AVERAGE TARGET PREMIUM:
The average target premium paid was $9,781, an increase of nearly 9% from the prior quarter.
PRIMARY PRICING OBJECTIVE:
Nearly 76% of sales were through products with a primary pricing objective of Cash Accumulation.
4th QUARTER LEADERS BY CHANNEL:
Bank- Pacific Life Companies
Career- National Life Group
Direct Response- AIG
Independent Agent- Pacific Life Companies
Independent Broker Dealer- Protective Life Companies
National Broker Dealer- Nationwide
4th QUARTER TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pacific Life Pacific Discovery Xelerator IUL
Bank- Pacific Life Pacific Discovery Xelerator IUL
Career- RiverSource Life RiverSource Multi-Index UL
Direct Response- American General Life AG Extend IUL
Independent Agent- Pacific Life Pacific Discovery Xelerator IUL
Independent Broker Dealer: Protective Life Protective Indexed Choice UL
National Broker Dealer- Nationwide Nationwide YourLife IUL Accumulator
Universal Life
Sales for the fourth quarter of 2018 were $349 million, compared with sales of $473 million for the fourth quarter of 2017. Fourth quarter universal life sales were up nearly 1% when compared with the previous quarter and down more than 26% as compared to the same period last year.
Total 4Q2018 universal life sales were $349,104,031.
Total 2018 universal life sales were $1,496,380,085.
AVERAGE TARGET PREMIUM:
The average target premium paid was $5,443; a decline of more than 5% from the prior quarter.
PRIMARY PRICING OBJECTIVE:
Nearly 67% of sales were through products with a primary pricing objective of No Lapse Guarantee.
Whole Life
Sales for the fourth quarter of 2018 were $1,247 million, compared with sales of $1,280 million for the fourth quarter of 2017. Fourth quarter whole life sales were up more than 12% when compared with the previous quarter, and down nearly 3% as compared to the same period last year.
Total 4Q2018 whole life sales were $1,247,300,290.
Total 2018 whole life sales were $4,550,867,990.
AVERAGE ANNUAL PREMIUM:
The average annual whole life premium per policy reported for the quarter was $3,714, a decline of less than % from the prior quarter.
PRIMARY PRICING OBJECTIVE:
Nearly 73% of sales were through products with a primary pricing objective of Cash Accumulation.