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What's going on in the Market? (S .L.OT.B/PR.G)
A March 7, 2007 LIMRA press release states that U.S. individual life insurance sales rose 7 percent in new annualized premium in 2006, compared to the year before, according to the quarterly survey by LIMRA International. Total face amount sold in 2006 rose by 4 percent over 2005, while the total number of new policies sold declined by 1 percent. Universal life and variable universal life sales each grew by 9 percent, while term life grew 5 percent for the year and whole life rose 2 percent. Estimated industry premium market share of each product was 40 percent for UL, 14 percent for VUL, 1 percent for variable, 23 percent for term and 22 percent for whole life. Survivorship policy sales ended the year 3 percent below 2005, a decline LIMRA attributed to continued uncertainty about the ultimate fate of the estate tax.
A Perfect Match (S.L.OT.B/PR.G)
Independent Distribution and Multicultural Marketing
Over the next 15 years, the Hispanic-American population is expected to increase at a higher rate than the Caucasian-American population. The Asian-American population is also on the rise. How can IMOs and BGAs reach out to the multicultural market? Read Rick Niu's article, published in NAILBA magazine, to learn more.
Swift Pitch (S.A.SC.B/PR.G)
When working with married couples, make sure you address both of their situations and life
insurance needs. One member of the couple could be underinsured.
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