Life's Face Lift
Best's Review (09/00) Vol. 13, No. 9 p.117; Hann, Leslie Werstein

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.

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