Independently and also with the support of LIMRA research staff and member companies, LIC conducts systematic surveys and benchmark reports on topics that are of interest to our members. We have been tracking sales data for the Final Expense and Preneed markets for many years, and offer participating member companies the opportunity to include questions of interest to them.
LIC Final Expense Survey Each year since 2009, the Life Insurers Council has conducted a comprehensive survey of the final expense insurance market, focusing on companies that sell through IMOs. The latest LIC Final Expense Survey Report (2022 Sales Data) was published in June 2023 and covers 22 carriers with a total of $732M in final expense sales. The report is complimentary for LIC members, $900 for LIMRA/LOMA members, and $1,120 for nonmembers.
LIC Preneed Survey Each year, LIC conducts a comprehensive survey of the preneed insurance market, tracking preneed sales and inforce data since 2007. The 2022 LIC Preneed Survey Report is available now (published June 2023), including 14 companies with total preneed sales of $2.032B. The Preneed Survey Report is complimentary for LIC members, $465 for LIMRA/LOMA members, and $575 for nonmembers.
LIC Smaller Company Fixed Annuity SurveyAlthough it’s true that the largest companies produce a significant percentage of fixed annuity sales, it’s also true that there are many smaller companies who actively market and sell these products. Yet industry annuity sales reports only reflect results from the largest carriers. In 2020 LIC conducted a ground-breaking study of 2019 annuity sales data for companies smaller than $5B in assets that actively market annuities.
The second annual report, published in August 2021, is now available. Survey topics include 2020 sales and in-force, plus sales by month, by product type, by distribution, and compared to 2019. To supplement the survey data, the report includes a deeper dive into the statutory financials showing a number of differences between large and small annuity carriers in net yield, investment expenses, salaries, travel expenses and agency conferences in response to COVID, and sundry general expenses.
The LIC Smaller Company Annuity Report will be available for sale in future years, but this year's report is again available at no charge.
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Learn more about networking committees available to senior management of companies that belong to the Life Insurers Council.
Meet the Life Insurers Council Advisory Board.
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For more information about the Life Insurers Council, please email lic@loma.org.