LIMRA: 2002 Life Premiums Rise 3 Percent
National Underwriter (Life and Health Financial Services Edition) (03/12/03) p.A3; Allen, Mike

In 2002, premiums from individual U.S. life insurance sales increased by 3 percent, according to surveys conducted by LIMRA International, which also reports that the year saw a 12 percent increase in the face amount of life insurance coverage sold. The surveys also show that stock market declines spurred consumers to seek life insurance products with fewer investment risks during 2002. During the fourth quarter of last year, while sales of variable life policies fell by 24 percent, sales of universal life insurance were 46 percent higher than they were a year before and accounted for 28 percent of total 2002 sales revenue, the largest market share since 1986, LIMRA reports.


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