Life Insurance Quotes

Life insurance sales up from quarter to quarter

12/22/11

Life insurance sales have struggled throughout 2011, with Americans being unable to afford these crucial investments because of the stalled economy. However, quarter-to-quarter sales are consistently increasing despite sales being down for the year, according to the recent Kehrer-LIMRA Life Report.

Life insurance companies saw their sales increase from the second to the third quarter of 2011, with more than $363 million in life insurance premiums being sold, according to the report. The peak in the last few years was in the third quarter of 2010, when bank life sales reached $513 million, but sales dipped drastically in the next two quarters before rebounding in the second quarter this year.

Close to 20 percent of the third quarter sales through banks was for term coverage, which is a more affordable option that has no cash value and only insures consumers for a specified period of time.

“Bank life sales are once again trending in the right direction, and an analysis of the life products being sold indicate bank-based reps are starting to get the hang of the wealth transfer life insurance sale," said Scott Stathis, managing director of Kehrer-LIMRA. "What would really be impressive is if carriers help banks figure out a way to nail the permanent protection-oriented life insurance sale.”

According to a LIMRA study in 2010, 30 percent of Americans didn't have any form of life insurance.

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