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  • FOURTH QUARTER 2019 LIFE INSURANCE SALES

    March 23, 2020 by Sheryl J. Moore

    Non-Variable UL

    Sales for the fourth quarter of 2019 were $1,076 million, compared with sales of $981 million for the fourth quarter of 2018. Fourth quarter non-variable life sales were up more than 28% when compared to the previous quarter and up nearly 10% as compared to the same period last year.

     

     

    Indexed Life

    Sales for the fourth quarter of 2019 were $725 million, compared with sales of $632 million for the fourth quarter of 2018. Fourth quarter indexed life sales were up nearly 31% when compared with the previous quarter, and up nearly 15% as compared to the same period last year.

    This was a record-setting year for indexed life sales, topping the previous 2018 record by 6.13%.

     

    Total 4Q2019 indexed life sales were $725,115,919.

    Total 2019 indexed life sales were $2,372,826,564.

     

    THE TOP FIVE INDEXED LIFE CARRIERS FOR THE Fourth QUARTER OF 2019:

    1. Pacific Life Companies
    2. Lincoln National Life
    3. National Life Group
    4. John Hancock
    5. Transamerica

     

    AVERAGE TARGET PREMIUM:

    The average target premium paid was $12,947, a decline of more than 3% from the previous quarter.

     

    Primary Pricing objective:

    Nearly 68% 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- John Hancock
    RIA- John Hancock

     

    4th QUARTER TOP SELLING PRODUCTS BY CHANNEL: 
    Overall- Pacific Life Pacific Discovery Xelerator IUL 2
    Bank- Pacific Life Pacific Discovery Xelerator IUL 2
    Career- Farm Bureau Life Foundations Indexed UL
    Direct Response- American General Life AG Extend IUL
    Independent Agent- Lincoln National Life Lincoln WealthAccumulate (2019)
    Independent Broker Dealer- Protective Life Protective Indexed Choice UL 2014
    National Broker Dealer- John Hancock Life Accumulation IUL 2018
    RIA Distribution – John Hancock Life of New York Accumulation IUL

     

    Universal Life

    Sales for the fourth quarter of 2019 were $351 million, compared with sales of $348 million for the fourth quarter of 2018. Fourth quarter universal life sales were up more than 22% when compared with the previous quarter and up nearly 1% as compared to the same period last year.

     

    Total 4Q2019 universal life sales were $351,818,220.

    Total 2019 universal life sales were $1,226,843,730.

     

     

    AVERAGE TARGET PREMIUM:

    The average target premium paid was $6,836, an increase of nearly 61% from the previous quarter.

     

    Primary Pricing Objective:

    Nearly 63% of sales were through products with a primary pricing objective of No Lapse Guarantee.

     

     

    Whole Life

    Sales for the fourth quarter of 2019 were $1,455 million, compared with sales of $1,228 million for the fourth quarter of 2018. Fourth quarter whole life sales were up 24% when compared with the previous quarter, and up nearly 19% as compared to the same period last year.

     

    Total 4Q2019 whole life sales were $1,455,507,066.

    Total 2019 whole life sales were $4,817,484,194.

     

     

    AVERAGE Annual Premium:

    The average annual whole life premium per policy reported for the quarter was  $3,580, an increase of more than 23% from the previous quarter.

     

    primary pricing objective:

    Precisely 75% of sales were through products with a primary pricing objective of Cash Accumulation.

     

    Wink anticipates compiling first quarter, 2019’s sales with a release date of May, 2019.

     

    Categories: Sheryl's Blogs
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