Web Shoppers Helped Q1 Term Life Sales: LIMRA
June 9, 2020 by Allison Bell
U.S. consumers spent a little less on new individual life insurance policies in the first quarter, but they ended up with more coverage.
Analysts from LIMRA have reported data on the U.S. individual life market in a summary of a life insurance issuer survey report. LIMRA received responses from insurers that account for about 80% of U.S. individual life premiums.
Both new annualized premiums and the number of new policies fell 1%.
The total amount of death benefits sold increased 8%.