Life Insurance

Life Sales Increase By Double Digits

Wink, Inc. Releases Second Quarter, 2019 Life Sales Results

Wink’s life insurance Sales & Market Report for 2019 Q2. Read more here.

Des Moines, Ia- August 30, 2019- Wink, Inc. released Q2 2019 life sales results in its 88th edition of Wink’s Sales & Market Report. The report, the insurance industry’s #1 resource for indexed life insurance sales data since 1997, expanded in 2017 to include fixed universal life (UL) and whole life product lines.

Non-variable universal life sales for the second quarter were over $860.2 million; up 12.0% when compared to the previous quarter and down 10.1% as compared to the same period last year. Non-variable universal life sales include both indexed UL and fixed UL product sales.

Noteworthy highlights for total non-variable universal life sales in the second quarter included Pacific Life Companies moving back-in as the #1 company, overall, for non-variable universal life sales with a market share of 10.1%. Transamerica Premier Financial Foundation IUL was the #1 selling product for non-variable universal life sales, for all channels combined.

Indexed Life Sales Surge

Indexed life sales for the second quarter were $551.0 million, up 12.1% when compared with the prior quarter, and down 0.3% as compared to the same period last year. “It isn’t that surprising to see such a strong second quarter when considering that there is only half a year left to sell these relatively-competitive products,” declared Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc. She continued “I would expect that third quarter sales will continue to be as strong, and there will be a fire sales mentality near the close of the year with 2017 CSO and PBR taking effect 1/1/20.”

Items of interest in the indexed life market included Pacific Life Companies moving into the #1 ranking in indexed life sales, with a 15.3% market share. National Life Group, Transamerica, Nationwide, and Global Atlantic Financial Group rounded out the top five, respectively.

Transamerica Premier Financial Foundation IUL was the #1 selling indexed life insurance product, for all channels combined. The top pricing objective for sales this quarter was Cash Accumulation, capturing 75.7% of sales. The average indexed life target premium for the quarter was $9,923, an increase of nearly 12.0% from the prior quarter.

Fixed UL second quarter sales were $310.3 million, up 12.0% when compared with the previous quarter and down 23.6% as compared to the same period last year. Noteworthy highlights for fixed universal life in the second quarter included the top pricing objective of No Lapse Guarantee capturing 65.1% of sales. In addition, the average UL target premium for the quarter was $5,550, an increase of nearly 27.0% from the prior quarter.

Whole life second quarter sales were $1.1 billion; up 16.9% when compared with the prior quarter, and up 6.7% as compared to the same period last year. Items of interest in the whole life market included the top pricing objective of Cash Accumulation capturing 73.7% of sales. The average premium per whole life policy for the quarter was $3,077, an increase of more than 9.0% from the prior quarter.

Additional product lines, such as term life insurance, will be added to Wink’s Sales & Market Report in upcoming quarters.

 

For more information, go to www.WinkIntel.com

 

 

 

Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.WinkIntel.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all deferred annuity products in 2015, all deferred variable annuity products in 2019 and all non-variable cash value life insurance products in 2017.
The staff of Wink, Inc. has the combined experience of more than 175 years working with insurance products, more than a decade of which is specifically in competitive intelligence. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.
Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.