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Limra: Whole Life Up In 3q By 6%

Whole life insurance grew 15 percent over the first nine months of 2010, with a 6 percent increase during the third quarter this year, LIMRA's U.S Individual Life Insurance Sales survey showed. Despite the continued growth of whole life, it has slowed compared to the year's first couple of quarters, which showed increases of 15 and 23 percent. At the end of the third quarter, whole life made up 30 percent of the overall annualized premium sales, according to LIMRA. Other life products that gained during the third quarter were universal life (UL), up 8 percent, and indexed UL, up 45 percent, helping overall UL sales increase. Those that showed losses during the same period included variable UL, down 9 percent, and term life, down 16 percent - with three quarters of term writers reporting losses, the sales survey concluded

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