SECOND QUARTER 2025 LIFE INSURANCE SALES
September 4, 2025 by Sheryl J. Moore
All Life
Sales for the second quarter of 2025 were $2,948 million, compared with $2,871 for the second quarter of 2024. Second quarter life sales were up nearly 9% when compared to the previous quarter and up nearly 3% as compared to the same period last year. All life products include indexed life, fixed universal life (UL), variable UL, whole Life, and term life products.
Total 2Q2025 all life sales were $2,948,803,701.
All Universal Life
Sales for the second quarter of 2025 were $1,189 million, compared with $1,139 for the second quarter of 2024. Second quarter universal life sales were up nearly 6% when compared to the previous quarter and up more than 4% as compared to the same period last year. All universal life products include fixed UL, indexed UL, and variable UL products.
Total 2Q2025 all universal life sales were $1,189,761,443.
Non-Variable UL
Sales for the second quarter of 2025 were $897 million, compared with sales of $847 million for the second quarter of 2024. Second quarter non-variable universal life sales were up nearly 6% when compared to the previous quarter and up nearly 6% as compared to the same period last year. All non-variable universal life products include fixed UL and indexed UL products.
Total 2Q2025 non-variable universal life sales were $897,512,145.
Universal Life
Sales for the second quarter of 2025 were $69 million, compared with sales of $100 million for the second quarter of 2024. Second quarter universal life sales were down nearly 13% when compared with the previous quarter and down nearly 31% as compared to the same period last year.
Total 2Q2025 universal life sales were $69,879,697.
Primary Pricing Objective:
36.9% of sales were through products with a primary pricing objective of No Lapse Guarantee.
AVERAGE TARGET PREMIUM:
The average target premium paid was $7,742, an increase of nearly 15% from the prior quarter.
Indexed Life
Sales for the second quarter of 2025 were $829 million, compared with sales of $747 million for the second quarter of 2024. Second quarter indexed life sales were up nearly 8% when compared with the previous quarter, and up more than 11% as compared to the same period last year. Indexed life sales include indexed UL and indexed whole life products.
Total 2Q2025 indexed life sales were $829,716,444.
THE TOP FIVE INDEXED LIFE CARRIERS:
- National Life Group
- Transamerica
- Pacific Life Companies
- Nationwide
- John Hancock
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Transamerica Life’s Transamerica Financial Foundation IUL II
Bank- Pacific Life Horizon Survivorship IUL
National Broker Dealer- Nationwide’s Nationwide IUL Accumulator II 2020
Career- Farm Bureau Life Foundations Indexed UL
Direct Response- American General Life Protection Extend IUL
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:
73.3% 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 $12,917, an increase of more than 8% from the prior quarter.
Variable Universal Life
Sales for the second quarter of 2025 were $292 million, compared with sales of $291 million for the second quarter of 2024. Second quarter variable universal life sales were up more than 6% when compared with the previous quarter and up less than 1% as compared to the same period last year.
Total 2Q2025 variable universal life sales were $292,249,298.
THE TOP FIVE VARIABLE UNIVERSAL LIFE CARRIERS:
- Prudential
- Pacific Life Companies
- John Hancock
- Nationwide
- RiverSource Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pruco Life VUL Protector
Bank- Pacific Life Pacific Legacy Survivorship VUL
Registered Investment Advisor- Nationwide Nationwide Survivorship VUL II
National Broker Dealer- Nationwide VUL Accumulator
Independent Broker Dealer- Ameritas Life Ameritas Advisor ClearEdge VUL
Career- RiverSource Life RiverSource VUL 6
Independent Agent- Pruco Life 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:
59.3% 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 $27,661, an increase of nearly 14% from the prior quarter.
Whole Life
Sales for the second quarter of 2025 were $1,134 million, compared with sales of $1,081 million for the second quarter of 2024. Second quarter whole life sales were up nearly 12% when compared with the previous quarter, and up nearly 5% as compared to the same period last year.
Total 2Q2025 whole life sales were $1,134,030,209
Primary Pricing objective:
76.5% 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 $5,086, an increase of more than 7% from the prior quarter.
Term Life
Sales for the second quarter of 2025 were $622 million, compared with sales of $650 million for the second quarter of 2024. Second quarter term life sales were up nearly 8% when compared with the previous quarter, and down more than 4% as compared to the same period last year.
Total 2Q2025 term life sales were $622,928,054.
AVERAGE Annual Premium:
The average annual premium per policy reported for the quarter was $2,498, an increase of more than 17% from the previous quarter.
-sjm
