What do you want to know
- Sales of indexed life insurance increased the most.
- Sales of traditional universal life insurance have fallen.
- Whole life insurance produced the highest new annualized premiums.
In the first quarter, customers flocked to individual life insurance products whose performance was tied to investment indices, according to new life insurance sales survey data from Wink.
Customers also increased their purchases of simple and classic whole life insurance policies.
Customers have reduced their purchases of intermediate traditional universal life policies.
Wink is a life insurance and annuity market tracking company based in Des Moines, Iowa. Figures from its U.S. individual life insurance survey only reflect the performance of non-variable permanent life insurance products, not products such as term or life insurance. variable universal.
What this means
Clients seem to opt for plain vanilla products when their main fear is volatility, and with products that offer access to big performance gains when their main fear is inflation.
Wink’s findings are relevant to retirement advisors as well as life insurance professionals and estate planners, as clients often use permanent life insurance products as part of income planning arrangements. and other complex planning arrangements.
