Wink: Indexed Life Sales Continue on Record Setting Pace
Wink, Inc. Releases Second Quarter, 2022 Life Sales Results
Wink, Inc. released the second quarter, 2022 life sales results in its 100th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report is the insurance industry’s #1 resource for life insurance sales data, since 1997.
NON-VARIABLE UNIVERSAL LIFE sales for the second quarter were $790.3 million; up 7.1% when compared to the previous quarter and up 4.4% as compared to the same period last year. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the second quarter included National Life Group with the #1 overall sales ranking for non-variable universal life sales, with a market share of 12.1%. Transamerica Life’s Transamerica Foundation IUL was the #1 selling product for non-variable universal life sales, for all channels combined.
INDEXED LIFE sales for the second quarter were $685.5 million, up 8.8% when compared with the previous quarter, and up 11.5% as compared to the same period last year. Indexed life sales include both indexed UL and indexed whole life. “Indexed life sales just cannot be stopped” exclaimed Sheryl J. Moore, CEO of both Moore Market Intelligence and Wink, Inc. “This will be a record year for sales, and by a sizeable margin!”
Items of interest in the indexed life market included National Life Group with the #1 ranking in indexed life sales, with a 13.9% market share, Transamerica, Pacific Life Companies, Nationwide, and Sammons Financial Companies rounded out the top five, respectively.
Transamerica Life’s Transamerica 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 80.2% of sales. The average indexed life target premium for the quarter was $12,138, an increase of more than 5.0% from the prior quarter.
FIXED UL sales for the second quarter were $104.7 million, down 2.5% when compared to the previous quarter and down 26.5% as compared to the same period last year. Noteworthy highlights for fixed universal life included the top pricing objective of No Lapse Guarantee capturing 57.6% of sales. The average UL target premium for the quarter was $5,145, a decline of less than 1.0% from the prior quarter. Moore commented, “Even an improved interest rate environment cannot put a stop to the double-digit declines in traditional UL sales; it is sad.”
WHOLE LIFE second quarter sales were $1.1 billion, down more than 3.8% when compared with the previous quarter, and down more than 5.8% as compared to the same period last year. Items of interest in the whole life market included the top pricing objective of Final Expense capturing 56.5% of sales. The average premium per whole life policy for the quarter was $3,513, an increase of nearly 11% from the prior quarter.
Wink currently reports on indexed universal life, indexed whole life, universal life, whole life, and all deferred annuity lines’ product sales. Sales reporting on additional product lines will follow in the future.
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 a combined experience of more than 175 years working with insurance products, more than a decade of which is specific to 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, 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.
AIP Marketing Alliance is publishing this article as information only and the content should not be used to make a purchasing decision.
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