Ranking｜Top 2022 of the best-selling insurance products and life insurance brands and companies in the United States in Q4 5 - American Life Insurance Guide©️

(News from TheLifeTank 03/09/2023)U.S. Life Insurance Brand Market Shares, Q2022 4^*Posted by Wink this week.The Life TankIt will help interpret the Q2022 data in 4, and help policyholders and investors understand:

An insurance brand with a relatively high market share in the US market;
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 Chinese interpretation report is one of the important reference indicators for individuals, families and businesses in the Chinese-speaking community to purchase and configure American life insurance.

🏆Comprehensive product sales champion: National Life Insurance Company

National Life Group®️ Index Insurance Product Line Overview

FlexLife	PeakLife	SummitLife

National Life Group®️Various index insurance products issued by the company (Click on the image above to view some product reviews), the cumulative index insurance market share reached 14.7% (14.4% in the previous quarter), continuing to lead the market.

🏆Best-selling index insurance product: Financial Foundation IUL

List of Transamerica®️ Index Insurance Products

Financial Foundation IUL insurance product cover

Issued by Transamerica®️Financial Foundation IUL insurance account(Product evaluation), has maintained the title of "Quarterly Best-selling Insurance Product" for several consecutive quarters.

The following are specific data reports for different insurance market segments:

1. Index insurance: "asset allocation" + "financial management"

Index insurance, English called Indexed Universal Life, usually referred to as IUL.

The premium sales of index insurance accounts in Q2022 of 4 will be 7.5 million US dollars, and the accumulated premiums will increase by about 12% month-on-month.

From 2012 to 2023, the historical trend chart of the premium payment and deposit amount of the index insurance account is shown in the following figure:

(2022Q4 Index Insurance Premium Trend Chart©️Winkintel)

How much premium do policyholders pay on average each year?
- During the third quarter of 2022,The average annual premium paid per index policy is $13,447.

Why do policyholders choose index insurance?
-79.2% of policyholders seek "cash value accumulation"(Cash Accumulation)"This goal is to be insured.

In the field of index insurance markets,National LifeBased on the sales advantages of its various index insurance products, it continued to rank first in overall sales in this quarter.Transamerica Life, Pacific Life, Nationwide Life and John Hancock Life Insurance (Manulife) Group followed.

according to2022Q4 market share, The following isIndex life insurance company brand Top5, The following is the specific content of the list.

Life 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）
John Hancock / John Hancock Insurance (Manulife Insurance)(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): G-UL products carry half the sky

Traditional universal life insurance, also known as fixed-rate universal life insurance, is called Universal Life in English.

(2022Q4 UL Universal Life Insurance Premium Trend Chart©️Winkintel)

The premium sales of universal insurance in Q2022 of 4 will be about 1 million US dollars. Judging from the historical trend chart of the insured amount, it has remained basically stable after a sharp decline.

The main sales force comes fromGUL insurance product with "guaranteed continuous insurance".

How much premium do policyholders pay on average?
- In 2022Q4,The average annual premium paid for each UL policy is $5,440.

Why do policyholders choose universal insurance?
-54.6% 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）2022年Q4的保费销售额继续保持在12亿美元，环比增长了12.7%，和去年同期相比下降了17%。

The figure below shows the trend of the total amount of historical premium payment in the U.S. savings dividend insurance account from 2017 to the beginning of 2023.

How much premium do policyholders pay on average?
- During the fourth quarter of 2022,Average annual premium per policy is $3,894.

Why do policyholders choose participating insurance?
-52.4% of policyholders because of "Final Expense"For this consideration, we chose to configure the savings dividend insurance.

Article summary

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, Widely used in retirement income planning, dollar asset allocation, life insurance claims, financial planning, corporate executive benefit planning, and estate planning and other fields. (full text)

*"THIRD QUARTER 2022 LIFE INSURANCE SALES", Wink Inc, 12/01/2022, https://www.winkintel.com/2022/12/3q22lifesales/

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Ranking｜Top 2022 Best-selling Insurance Products and Life Insurance Brands and Companies in the U.S. in Q4 5