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Article: LIMRA International Survey Shows Small Rise in First Quarter U.S. Individual Life Insurance Sales; Term Sales Down, Variable Universal and Universal Life Up.
- Article from:
- Business Wire
- Article date:
- June 22, 2001
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Business/Technology Editors
WINDSOR, Conn.--(BUSINESS WIRE)--June 22, 2001
LIMRA International's first quarter survey of U.S. individual life insurance sales shows a 4 percent increase in annualized premium over first quarter last year, with a sharp decline in term sales and strong premium growth for Variable Universal Life (VUL) and Universal Life (UL).
However, while premiums increased, both face amounts and number of policies sold declined across the board.
"Term sales were down substantially compared with first quarter 2000 without the boost from the implementation of Regulation XXX," said Elaine Tumicki, assistant vice president, ...