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Wink Reports First Quarter Annuity, Life Insurance Sales

This article contains information that is used with the permission of Wink, Inc. You can review the original articles by visiting Wink’s website for the life insurance article and annuity article.

With more than 30 years of insurance experience, Wink, Inc. provides competitive intelligence tools to life insurance and annuity home offices, distributors, sales professionals, and consulting firms, including AIP Marketing Alliance. They are committed to the advocacy of the life insurance industry, spending a great deal of their time educating the public, media outlets, regulators, and legislators on life insurance and annuity products, markets, sales, and distribution.

Wink recently reported 1st Quarter 2022 sales trends in the life insurance and annuity markets, and AIPMA would like to share Wink’s data to keep you informed on the state of the industry. Our team hopes you find this data useful, and you can read both articles on Wink’s website by clicking the hyperlinks above.

Life Insurance

Sales for the first quarter of 2022 were $737 million, compared with sales of $653 million for the first quarter of 2021. First quarter non-variable life sales were down nearly 14% when compared to the previous quarter and up nearly 13% as compared to the same period last year. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales. Total 1Q22 non-variable universal life sales were $737,455,268.

  • Indexed Life: Sales for the first quarter of 2022 were $629 million, compared with sales of $533 million for the first quarter of 2021. First quarter indexed life sales were down more than 12% when compared with the previous quarter and up more than 18% as compared to the same period last year. The average target premium paid $11,554; a decline of nearly 3% from the prior quarter.
  • Universal Life: Sales for the first quarter of 2022 were $107 million, compared with sales of $120 million for the first quarter of 2021. First quarter universal life sales were down more than 21% when compared with the previous quarter and down nearly 11% as compared to the same period last year. The average target premium paid was $5,177; a decline of more than 10% from the prior quarter.
  • Whole Life: Sales for the first quarter of 2022 were $1,149 million, compared with sales of $1,092 million for the first quarter of 2021. First quarter whole life sales were down nearly 24% when compared with the previous quarter, and up more than 5% as compared to the same period last year. The average annual whole life premium per policy reported was $3,177; a decline of nearly 14% from the prior quarter.

You can review the entire life insurance article here.

Annuities

Wink’s Sales & Market Report has been the insurance industry’s #1 resource for annuity sales data since 1997. Sixty-two indexed annuity providers, 44 fixed annuity providers, 68 multi-year guaranteed annuity (MYGA) providers, 16 structured annuity providers, and 43 variable annuity providers participated in the 99th edition of Wink’s Sales & Market Report for 1st Quarter 2022.

  • Indexed Annuities: Total first quarter sales were $16.6 billion; down 1.6% when compared to the previous quarter and up 14.5% when compared with the same period last year. Indexed annuities have a floor of no less than zero percent and limited excess interest that is determined by the performance of an external index, such as Standard and Poor’s 500®.
  • Traditional Fixed Annuities: Total first quarter sales were $463.5 million; sales were down 4.8% when compared to the previous quarter and up more than 2.8% when compared with the same period last year. Traditional fixed annuities have a fixed rate that is guaranteed for one year only.
  • Multi-Year Guaranteed Annuity (MYGA): Total first quarter sales were $14.5 billion; sales were up 30.1% when compared to the previous quarter and up more than 9.86% when compared to the same period last year. MYGAs have a fixed rate that is guaranteed for more than one year.
  • Deferred Annuities: Total first quarter sales were $59.7 billion; a decrease of 1.9% when compared to the previous quarter and an increase of 2.2% when compared to the same period last year. All deferred annuities include the variable annuity, structured annuity, indexed annuity, traditional fixed annuity, and MYGA product lines.
  • Non-Variable Deferred Annuities: Total first quarter sales were $31.7 billion; an increase of 10.7% when compared to the previous quarter and an increase of 12.0% when compared to the same period last year. Non-variable deferred annuities include the indexed annuity, traditional fixed annuity, and MYGA product lines.
  • Variable Deferred Annuities: Total first quarter sales were $27.9 billion; down 13.3% when compared to the previous quarter and down more than 6.9% when compared to the same period last year. Variable deferred annuities include the structured annuity and variable annuity product lines.
  • Variable Annuities: Total first quarter sales were $18.5 billion, down more than 16.4% as compared to the previous quarter and down 11.9% as compared to the same period last year. Variable annuities have no floor, and the potential for gains/losses is determined by the performance of the subaccounts that may be invested in an external index, stocks, bonds, commodities, or other investments.
  • Structured Annuities: Total first quarter sales were $9.4 billion; sales were down more than 6.3% as compared to the previous quarter and down 4.6% as compared to the previous year. Structured annuities have a limited negative floor and limited excess interest that is determined by the performance of an external index or subaccounts.

You can review the entire annuity article here.

If you are looking for a life insurance product or annuity that may fit your client’s current needs, please contact AIP Marketing Alliance’s Business Development team at (800) 783-5206 Press #2 or email marketing@aipma.com. You also can compare insurance products by logging into AIPMA’s Agent Tools to access Wink’s AnnuitySpecs comparison resource.

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