Wink, Inc. Releases Fourth Quarter, 2019 Life Sales Results
March 20, 2020 by Press Release
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NEWS RELEASE
INDEXED LIFE SALES SMASH PRIOR RECORD!
Wink, Inc. Releases Fourth Quarter, 2019 Life Sales Results
Des Moines, Iowa. March 20, 2020– Wink, Inc. released fourth quarter, 2019 life sales results in its 90th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, is the insurance industry’s #1 resource for life insurance sales data, since 1997.
Non-variable universal life sales for the fourth quarter were over $1.0 billion; up 28.3% when compared to the previous quarter and up 9.6% as compared to the same period last year. Total 2019 non-variable universal life sales were $3.5 billion. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the fourth quarter included Pacific Life Companies retaining the #1 ranking overall for non-variable universal life sales, with a market share of 9.3%. Pacific Life Pacific Discovery Xelerator IUL 2 was the #1 selling product for non-variable universal life sales, for all channels combined, for the 2nd consecutive quarter.
Indexed life sales for the fourth quarter were $725.1 million, up 30.8% when compared with the previous quarter, and up 14.6% as compared to the same period last year. This was a record-setting year for indexed life sales, with the total 2019 indexed life sales hitting $2.3 billion. Indexed life sales include both indexed UL and indexed whole life. “I anticipated that this would be another record-setting year for indexed life!” exclaimed Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc. She continued, “The deadline for 2017 CSO just made setting a sixth consecutive record in sales SO much easier for this product line.”
Items of interest in the indexed life market included Pacific Life Companies retaining the #1 ranking in indexed life sales, with a 13.4% market share. Lincoln National Life, National Life Group, John Hancock, and Transamerica rounded-out the top five, respectively.
Pacific Life Pacific Discovery Xelerator IUL 2 was the #1 selling indexed life insurance product, for all channels combined. The top pricing objective for sales this quarter was Cash Accumulation, capturing 67.6% of sales. The average indexed life target premium for the quarter $12,947, a decline of 3.0% from the previous quarter.
Fixed UL fourth quarter sales were $351.8 million, up 22.2% when compared with the previous quarter and up 0.8% as compared to the same period last year. Total 2019 Fixed UL sales were $1.2 billion. Noteworthy highlights for fixed universal life in the fourth quarter included the top pricing objective of No Lapse Guarantee capturing 62.9% of sales. The average UL target premium for the quarter was $6,836, an increase of 61.0% from the previous quarter. Moore commented, “While 2017 CSO lent to a double-digit in UL sales this for this quarter, it wasn’t enough to make a dent in the annual production, as total sales slipped by double-digits in 2019. Interest rates were just miserable.”
Whole life fourth quarter sales were $1.4 billion, up 24.0% when compared with the previous quarter, and up 18.5% as compared to the same period last year. Total 2019 whole life sales were $4.8 billion. Items of interest in the whole life market included the top pricing objective of Cash Accumulation capturing 75.0% of sales. The average premium per whole life policy for the quarter was $3,580, an increase of more than 23.0% from the previous quarter. “The life insurance pricing changes due to PBR and 2017 CSO also impacted whole life,” commented Moore. “So, seeing the double-digit increase in sales this quarter wasn’t a big surprise. When you look at the big increase in the year’s sales though, it really speaks to how strongly consumers feel about guarantees.”
Wink currently reports on indexed universal life, indexed whole life, universal life, whole life, and all deferred annuity lines’ product sales. Sales reporting on additional product lines will follow in the future.
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For more information, go to www.WinkIntel.com
Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.WinkIntel.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all deferred annuity products in 2015, all deferred variable annuity products in 2019 and all non-variable cash value life insurance products in 2017.
The staff of Wink, Inc. has the combined experience of more than 175 years working with insurance products, more than a decade of which is specific to competitive intelligence. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.
Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.
March 20, 2020
Des Moines, IA
(855) ASK-WINK
