Life sales predicted to be flat in 2023
January 3, 2023 by Maureen Shaughnessy
Over the past few years, the life insurance industry has experienced a pandemic, lockdowns, underwriting restrictions, work-from-home disruptions, life insurance tax law changes and volatile economic conditions.
Life insurance premium sales soared 18% in 2021 as the result of increased consumer demand for life insurance, coupled with the impact of tax law changes allowing higher premiums per dollar of death benefit to qualify as life insurance. Total life insurance premium sales were up 11% through the first half of 2022.