A survey of consumer buying trends in the life industry
in 1999 shows consumers are continuing to buying larger policies.
The face amount of the average ordinary life policy issued jumped
8.8 percent to $111,896. Meanwhile, the industrywide published
lapse ratio for ordinary life policies did not change, rising
less than half a percentage point to 8.3. One reason for the
steady rise in average policy size, analysts say, is the fact the
many companies have taken to marketing policies to high-net-worth
individuals who want to protect their estates from taxes.