1st Quarter, 2025 Life Insurance Sales
June 6, 2025 by Sheryl J. Moore
All Life
Sales for the first quarter of 2025 were $2,716 million, compared with $2,660 for the first quarter of 2024. First quarter life sales were down nearly 14% when compared to the previous quarter and up more than 2% as compared to the same period last year. All life sales include fixed universal life (UL), indexed UL, variable UL, whole life and term life products.
Total 1Q2025 all universal life sales were $2,716,158,347.
All Universal Life
Sales for the first quarter of 2025 were $1,122 million, compared with $1,034 for the first quarter of 2024. First quarter universal life sales were down nearly 16% when compared to the previous quarter and up nearly 9% as compared to the same period last year. All universal life (UL) sales include fixed UL, indexed UL, and variable UL products.
Total 1Q2025 all universal life sales were $1,122,789,692.
Non-Variable UL
Sales for the first quarter of 2025 were $848 million, compared with sales of $772 million for the first quarter of 2024. First quarter non-variable universal life sales were down more than 11% when compared to the previous quarter and up nearly 10% as compared to the same period last year. Non-variable universal life (UL) sales include fixed UL and indexed UL products.
Total 1Q2025 non-variable universal life sales were $848,132,819.
Universal Life
Sales for the first quarter of 2025 were $80 million, compared with sales of $93 million for the first quarter of 2024. First quarter universal life sales were down 10% when compared with the previous quarter and down more than 14% as compared to the same period last year.
Total 1Q2025 universal life sales were $80,061,999.
Primary Pricing Objective:
37.7% of sales were through products with the primary pricing objective of No Lapse Guarantee.
AVERAGE TARGET PREMIUM:
The average target premium paid was $6,637, an increase of more than 1% from the prior quarter.
Indexed Life
Sales for the first quarter of 2025 were $770 million, compared with sales of $679 million for the first quarter of 2024. First quarter indexed life sales were down more than 11% when compared with the previous quarter, and up more than 13% as compared to the same period last year. Indexed life sales include indexed universal life and indexed whole life products.
Total 1Q2025 indexed life sales were $770,085,821.
THE TOP FIVE INDEXED LIFE CARRIERS:
- National Life Group
- Transamerica
- Pacific Life Companies
- John Hancock
- Nationwide
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Transamerica Life’s Transamerica Financial Foundation IUL II
Bank- Pacific Life’s Pacific Horizon IUL 2
National Broker Dealer- Nationwide’s Nationwide IUL Accumulator II 2020
Career- Life Insurance Co. of the SW’s SummitLife
Direct Response- American General Life’s Value+ Protector III
Independent Agent- Transamerica Life’s Transamerica Financial Foundation IUL II
LEADERS BY CHANNEL:
Bank- Pacific Life Companies
National Broker Dealer- Nationwide
Career- National Life Group
Direct Response- Corebridge Financial
Independent Agent- National Life Group
Primary Pricing objective:
71.0% of sales were through products with a primary pricing objective of Cash Accumulation.
AVERAGE TARGET PREMIUM:
The average target premium reported for the quarter was $11,913, a decline of more than 10% from the prior quarter.
Variable Universal Life
Sales for the first quarter of 2025 were $274 million, compared with sales of $261 million for the first quarter of 2024. First quarter variable universal life sales were down nearly 27% when compared with the previous quarter and up nearly 5% as compared to the same period last year.
Total 1Q2025 variable universal life sales were $274,656,873.
THE TOP FIVE Variable Universal LIFE CARRIERS:
- Prudential
- Pacific Life Companies
- John Hancock
- RiverSource Life
- Nationwide
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pruco Life’s VUL Protector
Bank- Pacific Life’s Pacific Admiral VUL
Registered Investment Advisor- Nationwide’s Nationwide Survivorship VUL II
National Broker Dealer- Nationwide’s Nationwide VUL Accumulator
Independent Broker Dealer- Ameritas Life’s Ameritas Performance II VUL
Career- RiverSource Life’s RiverSource VUL 6
Independent Agent- Pruco Life’s VUL Protector
LEADERS BY CHANNEL:
Bank- Pacific Life Companies
Registered Investment Advisor- Nationwide
National Broker Dealer- Nationwide
Independent Broker Dealer- Ameritas
Career- Prudential
Independent Agent- Prudential
Primary Pricing objective:
56.8% of sales were through products with a primary pricing objective of Cash Accumulation.
AVERAGE TARGET PREMIUM:
The average target premium reported for the quarter was $24,359, a decline of less than 1% from the prior quarter.
Whole Life
Sales for the first quarter of 2024 were $1,013 million, compared with sales of $1,016 million for the first quarter of 2024. First quarter whole life sales were down nearly 17% when compared with the previous quarter, and down less than 1% as compared to the same period last year. Whole life sales include traditional whole life and interest sensitive whole life products.
Total 1Q2025 whole life sales were $1,013,390,661.
primary pricing objective:
75.9% percent of sales were through products with a primary pricing objective of Final Expense.
AVERAGE Annual Premium:
The average annual premium per policy reported for the quarter was $4,737, an increase of 20% from the prior quarter.
Term Life
Sales for the first quarter of 2025 were $577 million, compared with sales of $608 million for the first quarter of 2024. First quarter term life sales were down more than 4% when compared with the previous quarter, and down more than 5% as compared to the same period last year.
Total 1Q2025 term life sales were $577,962,992.
THE TOP FIVE TERM LIFE CARRIERS:
- Prudential
- Pacific Life Companies
- Protective Life Companies
- Corebridge Financial
- Massachusetts Mutual Life Companies
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pruco Life’s EssentialTerm Plus 20
Bank- Pacific Life’s Pacific Elite Term 10
National Broker Dealer- Nationwide’s YourLife Guaranteed Level 20-Year
Career- Thrivent Financial’s Thrivent 20-Year Level Term
Direct Response- American General Life’s AGL Select A Term 20 V2
Independent Agent- Pacific Life’s Promise Term 20
LEADERS BY CHANNEL:
Bank- OneAmerica
National Broker Dealer- Nationwide
Career- Farm Bureau Life
Direct Response- USAA
Independent Agent- Pacific Life Companies
AVERAGE Annual Premium:
The average annual premium per policy reported for the quarter was $2,133, a decline of more than 9% from the previous quarter.
Wink anticipates compiling second quarter 2025’s sales with a release date of August 2025. -sjm
