Posted by (News from TheLifeTank 10/05/2022)U.S. Life Insurance Brand Market Shares, Q2022 3*Officially released on December 12st.Through the interpretation of Q1 quarterly data,The Life TankWill help policyholders and investors understand:
- What are the reasons for US residents to choose different life insurance accounts?
- What is the average annual premium for insuring savings for U.S. residents?
American Life Insurance Guide©️The quarterly data report in Chinese is one of the reference indicators for individuals, families and businesses to purchase and configure American life insurance.
🏆Most Popular Company of the Quarter: National Life Insurance Company
National Life Group®️ Index Insurance Product Line Overview
| FlexLife | PeakLife | SummitLife |
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National Life Group®️Various index insurance products issued by the company (Click on the image above to view product reviews), the cumulative index insurance market share reached 14.4%, and continued to maintain the No. XNUMX position in this field.
🏆The best-selling item of the quarter: Financial Foundation IUL
Transamerica®️ Index Insurance Product Line at a Glance
| Financial Foundation IUL insurance product cover | ||
Issued by Transamerica®️Financial Foundation IUL insurance account(Product evaluation), maintained its leading sales position in the previous quarter and became the best-selling index insurance product in Q3.
The following are specific data reports for different insurance market segments:
1. Index insurance: "Insurance and wealth management" as the core goal
Index insurance, English called Indexed Universal Life, usually referred to as IUL.
指数保险账户在2022年Q3的保费销量为6.7亿美元，环比降低了2%。与去年同期相比，总体缴存保费增长了11%。
The historical premium payment status of the index insurance account since 2012 is shown in the figure below.
(2022Q3 Index Insurance Premium Trend Chart©️Winkintel)
How much premium do policyholders pay on average?
- During the third quarter of 2022,The average annual premium paid per index policy is $13,162.
Why do policyholders choose index insurance?
-77.9% of policyholders seek "cash value accumulation"(Cash Accumulation)"This goal is to be insured.
In the field of index insurance markets,National LifeTaking advantage of the sales volume of its various index insurance products, it continued to rank first in overall sales volume in this quarter.American Life, Pacific Life, Nationwide and Sammons Insurance Group followed.
according to2022Q3 market share, The following isTop 5 Index Life Insurance Company Brands, The following is the specific content of the list.
Index Insurance Brand Ranking Top 5
- 🏆National Life Group / National Life Insurance (Evaluation）
- Transamerica/ National Life Insurance (Evaluation）
- Pacific Life Companies / Pacific Life Insurance (Evaluation）
- Nationwide/ National Life Insurance (Evaluation）
- Sammons Insurance Group(Evaluation）
Quarterly best-selling index insurance product
🏆Sales champion - Transamerica FoundationIUL
American Life (Company Evaluation) IssuedFFIULproduct(Product Evaluation), continued to be the highest-selling index insurance product in the IUL market segment during the quarter.
2. Universal Life Insurance (UL): Pursuing "Continuous Guarantee"
Traditional universal life insurance, also known as fixed-rate universal life insurance, is called Universal Life in English.
(2022Q3 UL Universal Life Insurance Premium Trend Chart©️Winkintel)
万能险在2022年Q3的保费销售额约为0.96亿美元，环比下降了8%。和去年同期相比，下滑了17%。
How much premium do policyholders pay on average?
- In 2022Q3,The average annual premium paid for each UL policy is $5,515.
Why do policyholders choose universal insurance?
-55% of policyholders because"Guaranteed to keep(No Lapse Guarantee)"demand.purchased this policy.
3. Participating insurance: consideration of "end-of-life expenses"
Participating Insurance, Also known asSavings dividend insurance, called Whole Life in English.
Whole Life(Savings dividend insurance) Premium sales in Q2023 of 3 will remain at US$11 billion, down 1% from the previous quarter.
The historical premium payment status of the savings and dividend insurance account since 2017 is shown in the figure below.
(2022Q3 Participating Life Insurance Premium Trend©️Winkintel)
How much premium do policyholders pay on average?
- In the third quarter of 2022,Average annual premium per policy is $4,074.
Why do policyholders choose participating insurance?
-55% of policyholders because of "Final Expense"For this consideration, I chose the savings dividend insurance.
American life insurance products, usually refers to a financial account with cash value opened in an insurance company, and the policyholder enjoys the corresponding tax benefits and variousClaims benefits. (End of full text)
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*"THIRD QUARTER 2022 LIFE INSURANCE SALES", Wink Inc, 12/01/2022, https://www.winkintel.com/2022/12/3q22lifesales/
