LIMRA Reports U.S. Individual Life Insurance Premium Improves 8 percent in Third Quarter 2015

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U.S. individual life insurance new annualized premium increased 8 percent in the third quarter 2015 – the fifth consecutive quarter of positive growth, according to LIMRA’s Third Quarter 2015 U.S. Retail Individual Life Insurance Sales Survey.

“In the first nine months of 2015, strong whole life and indexed universal life sales resulted in a 7 percent increase for overall individual life insurance premium,” noted Ashley Durham, assistant research director, LIMRA Insurance Research.  “Every major product line recorded positive premium growth for the quarter.”

Total policy count rose 4 percent in the third quarter and 5 percent year to date.

Total universal life (UL) new annualized premium improved 11 percent in the third quarter, resulting in a 10 percent increase in the first nine months of 2015.

In the third quarter, indexed UL (IUL) new annualized premium – a subset of total UL sales -  drove overall UL sales growth.  IUL premium rose 20 percent in the third quarter and 19 percent year-to-date.  IUL now represents 54 percent of UL and 21 percent of all individual life premium sold during the first three quarters of the year.

Total UL premium represents 38 percent of all life sales in the first nine months of 2015.

Variable universal life (VUL) new annualized premium growth grew 2 percent in the third quarter and 1 percent year-to-date.  VUL’s market share was 7 percent of total sales year-to-date.

Whole life (WL) new annualized premium increased 9 percent in the third quarter and 10 year-to-date.  Nine of the top ten WL writers reported positive growth.  WL now represents 34 percent of the total life market.

Term new annualized premium increased 2 percent in the third quarter, representing the fourth consecutive quarter of positive growth.  Term premium rose 1 percent year to date.

Term’s market share was 21 percent in the first nine months of 2015.

View the latest data table on U.S. life insurance sales trends. For more statistics, visit the newly updated Data Bank

LIMRA Media Contacts 

Catherine Theroux, 860-285-7787, ctheroux@limra.com
Mark Morris, 860-285-7875, mmorris@limra.com

About LIMRA

LIMRA, a worldwide research, learning and development organization, is the trusted source of industry knowledge, helping more than 850 insurance and financial services companies in 64 countries. Visit LIMRA at www.limra.com.


NAFA, the National Association for Fixed Annuities, is a national trade association exclusively dedicated to promoting the awareness and understanding of fixed annuities. NAFA is the only association whose sole purpose is advocating for the fixed annuity product.

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