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Three Quarters of Life Insurance Shoppers Say Experience Was Similar or Better Than Other Major Purchases
For many Americans, the process of shopping for any major purchase can be stressful. The competition for products in all industries is intense and this is no different in the life insurance world. According to new LIMRA research however, the
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Carriers Using Simplified Issue to Better Serve Consumers
In an effort to underwrite more quickly and accurately, carriers are exploring simplified issue products, according to a new LIMRA study.
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LIMRA: U.S. Life Insurance Policy Sales Increased 4% in First Quarter 2023, Driven by Small and Mid-Size Carriers
Total U.S. retail life insurance new annualized premium fell 7% in the first quarter 2023 to $3.75 billion, yet the number of policies sold increased 4% from the prior year. This represents the highest policy sales growth since the second quarter 2021, during the height of the pandemic sales surge.
LIMRA: U.S. Life Insurance Policy Sales Increase 2% in 2020
While total life insurance new annualized premium fell 3% in 2020, the number of policies sold in 2020 increased 2% for the year, driven by strong whole life and term sales, according to LIMRA’s U.S. Individual Retail Life Insurance Sales Survey.
LIMRA: First Half of 2021 Had Highest U.S. Life Insurance Policy Sales Growth Since 1983
Increased consumer demand continues to drive record life insurance sales. In the first six months of 2021, the total number of policies sold increased 8%, compared with prior year results. This is the highest policy sales growth recorded since 1983, according to LIMRA’s Second Quarter U.S. Individual Life Insurance Sales Survey.