Posted by (American Life Insurance Guide 2022/06/06 News)美国保险WinK, a market data research company, released the US life insurance market rankings for the first quarter of 2022 on Monday, as well as data on hot-selling insurance products, which was reported by the American Life Insurance Guide for the first time.
Through the interpretation of quarterly industry data,TheLifeTank.Comwill help policyholders and investors understand, Which life insurance products are the darlings of the U.S. market, what are the main reasons why policyholders in the U.S. choose different life insurance policies, and what is the average premium for each policy?Answers to frequently asked questions such as this are also an important reference indicator for every family to purchase and configure American life insurance.
List of the most popular life insurance brands and products
In the first quarter of 2022, the non-securities life insurance market absorbed a total of $7.3 million in premiums, down 13.7 percent from the previous quarter.
The non-securities life insurance market includes various index insurance, universal insurance, and various savings insurance.
In this overall life insurance market segment,Pacific Life Insurance CompanyThe comprehensive market share reached 10%, ranking first.
Among all universal life insurance products, American Life'sFoundation IUL Insuranceproduct, is the best-selling insurance item.
Below is a detailed data report by different types of insurance.
1. Index insurance: demand for “insurance wealth management” increased by 7%
Index insurance, called Indexed Life in English, abbreviated as IUL.
Statistics include all the different types ofIndex insurance(IUL), and Indexed Whole Life.
指数保险在2022年Q1的销量为6.2亿美元，环比下降了12.2%。与疫情期间的去年同期相比，销量上升了18.1%。历史市场走势如下图。
(2022Q1 IUL Index Insurance Market Chart ©️Winkintel)
Average annual premium of index insurance:
In the first quarter of 2022,The average annual target premium for each index policy is $11,554.A decrease of 3% month-on-month.
The main target markets of index insurance:
81% of policyholders seek "cash value accumulation"(Cash Accumulation)"insurance against this objective.The demand for insurance and wealth management increased by 7 percentage points over the same period last year.
In the index insurance segment,National LifeTaking advantage of the sales volume of its various index insurance products, it continued to rank first in overall sales volume this quarter, with a market share of 11.1%.Pacific Life, National Life, Transamerica Life, and Hengkang Life followed closely.
according to2022Q1 market share, The following isTop 5 Index Life Insurance Company Brands, The following is the specific content of the list.
2022Q1 Index Insurance Ranking Top 5
(2022Q1 Index Insurance Market Brand Share Champion: National Life Insurance Official Website)
- 🏆National Life Group / National Life Insurance (Evaluation）
- Pacific Life Companies / Pacific Life Insurance (Evaluation）
- Nationwide/ National Life Insurance (Evaluation）
- Transamerica/ National Life Insurance (Evaluation）
- John Hancock/ Hengkang Life (Evaluation)
2022Q1 Best Selling Index Insurance Products
🏆Sales champion - Transamerica FoundationIUL
American Life (Company Evaluation) IssuedFFIULproduct(Product Evaluation), continued to be the best-selling insurance product in the IUL market segment this quarter with the advantage of low cost.
2. Universal Life Insurance (UL): Guaranteed continuous coverage
Traditional universal life insurance, also known as fixed-rate universal life insurance, is called Universal Life in English.
(2022Q1 UL Universal Life Insurance Sales Trend Chart ©️Winkintel)
万能险在2022年Q1的销售额为1亿美元，环比下降了21.4%。和去年同期相比，下滑了10.9%。
Average annual premium of universal insurance:
In 2022Q1,The average annual target premium per UL policy is $5,177.
The main target markets of UL Universal Insurance:
47.9% of policyholders choose"Guaranteed to keep(No Lapse Guarantee)",as the main reason to buy insurance.
3. Savings Insurance:
Savings insuranceIt is the oldest lifetime insurance, also known asSavings dividend insurance, called Whole Life in English.
Whole Life(Savings insurance）2022年Q1的销售额为11.4亿美元，环比下降了23.6%。跟疫情期间的去年同期相比，销量上升了5.2%。
https://thelifetank.com/policy-review(2022Q1 储蓄型寿险销量走势 ©️Winkintel)
Average annual premium for savings-type insurance:
In 2022Q1,The average annual premium for each policy is $3,177,A decrease of 14% month-on-month.
Main target markets for savings-type insurance:
55% of policyholders consider "Final Expense"This target is applied for.
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