Ranking｜Top 2023 rankings of US insurance and financial management companies and insurance financial products in 3Q5 - US Life Insurance Guide©️

(American Life Insurance Guide 01/03/2024 News)American insurance data service providerWink Released at the end of the year for Q2023 3American life insurance productsAndLife insurance brand marketOccupancy data^*. In its third quarter 2023 public data report, the U.S. Life Insurance Guide©️ will help policyholders and investors understand:

Insurance and wealth management products and insurance brands with a relatively high market share in the United States;
What are the reasons for American residents to choose different insurance wealth management accounts?
What is the average annual premium per insurance policy?

American Life Insurance Guide©️The Chinese interpretation report of quarterly data is one of the important reference indicators for individuals, families and companies in the Chinese-speaking community to purchase and configure American life insurance.

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

1. Index insurance: "Insurance wealth management" is the main goal

Index insurance, known as Indexed Life in English, usually includes indexed universal insurance accounts (referred to as IUL) and indexed Whole Life.

The premium sales of index insurance accounts in Q2023 3 were US$6.87 million, and the amount of new premiums issued by policyholders decreased by 5.3% month-on-month.

From 2012 to Q2023 of 3, the historical trend chart of the premium payment and deposit amount of the index insurance account is shown in the following figure:

(2023Q3 index insurance new premium trend chart ©️Winkintel)

🏆Quarter best-selling index insurance: Financial Foundation IUL

List of Transamerica®️ Index Insurance Products

Financial Foundation IUL insurance product cover

In the third quarter of 2023, Transamerica®️ issuedFinancial Foundation IUL insurance account(Product evaluation), and continued to maintain the crown of "the best-selling insurance product of the quarter".

2023Q3 Index Policy Data

How much annual premium does the average policyholder pay?
- During the third quarter of 2023,The average annual premium paid per index policy is $11,631.

Why do policyholders choose index insurance?
-79.1% of policyholders use index insurance for financial management, pursuing "cash value accumulation"(Cash Accumulation)".

In the field of index insurance markets,National Life以综合旗下多款指数保险产品的销量优势，继续在2023第3季度里整体销量排第一。全美人寿、全国人寿、太平洋人寿和Sammons Financial（北美人寿和米德兰人寿）分列第2到第4名。整体上，在2023年度里，指数市场前5名的人寿保险公司品牌保持不变。

according toBrand share in 2023Q3, The following isIndex life insurance company brand Top5, The following is the specific content of the list.

🏆Brand sales champion in the third quarter: National Life Insurance Company

National Life Group®️ mainstream index insurance product line

FlexLife	PeakLife	SummitLife

National Life Group®️ The sales volume of various index insurance products (Click on the image above to view some product reviews), accumulatively achieved a market share of 14.7% in the index insurance market.

Life Insurance Brand Ranking Top 5

🏆National Life Group / National Life Insurance (Evaluation）
Transamerica/ National Life Insurance (Evaluation）
Nationwide/ National Life Insurance (Evaluation）
Pacific Life Companies / Pacific Life Insurance (Evaluation）
Sammons Financial Companies / North American Life Insurance (Evaluation）

2. Universal life insurance (UL): traditional “guaranteed continuous coverage” product

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

(2023Q3 UL Universal Life Insurance Premium Trend Chart©️Winkintel)

The premium sales of traditional universal insurance in the third quarter of 2023 were approximately US$3 million. Judging from the historical trend chart of insured amount, the sales volume of traditional universal insurance continues to decline.

GUL insurance products with "guaranteed non-stop coverage" for wealth inheritance and transfer, is the main reason for policyholders to purchase this type of insurance.

How much annual premium does the average policyholder pay?
- In 2023Q3,The average annual premium paid for each UL policy is $5,493.

Why do policyholders choose universal insurance?
-54.0% of policyholdersbecause"Guaranteed to keep(No Lapse Guarantee)"Wealth inheritance planning needs.purchased this policy.

3. Participating insurance: “end-of-life expense” market

Participating Insurance, Also known asSavings dividends for life insurance, called Whole Life in English.

Whole Life(Savings dividends for life insurance) Premium sales in Q2023 3 are approximately US$10 billion, and new premiums fell 7.1% in the previous quarter.

The chart below shows the trend of the total historical premium deposits of U.S. savings participating whole life insurance accounts from 2017 to the third quarter of 2023.

How much premium do policyholders pay on average?
-In the second quarter of 2023,Average annual premium per policy is $4,283.

Why do policyholders choose participating insurance?
-49.6% of policyholders because of the consideration of "Final Expense"And chose to buy a savings dividend-type whole life insurance.

Column summary

American life insurance products, which is different from our traditional understanding of insurance products, it 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, U.S. dollar asset allocation, lifetime benefit protection, financial planning, corporate executive benefit planning, and estate planning. This type of insurance product is the core channel for “insurance financial management”.

At the same time, the principle of "LBYB – Learn Before You Buy" - "Learn Before You Buy" proposed by the American Life Insurance Guide website ©️, and through the sharing of insurance academies and insurance cases, helps Chinese families around the world to fully understand the dollar asset type. Knowledge of life insurance to get the products and services you really need. (End of full text)

About LifeTank©️ – LBYB
LBYB – Learn Before You Buy, is TheLifeTank.com – American Life Insurance Guide©️A guiding concept for individuals and families to configure financial insurance.In view of the extremely diversified financial instrument attributes of American life insurance and annuity insurance, the application of such products in the field of wealth accumulation and inheritance has surpassed traditional consumer insurance products.The impact of lack of corresponding basic knowledge education and one-sided education can be harmful to your interests after many years.Before applying for an insurance policy, American Life Insurance Guide©️ encourages consumers and investors to learn and understand the basic operating principles and functions of such financial products in advance, and seek professional assistance, so as to obtain solutions that can truly protect their families and wealth.

*”WINK, INC. RELEASES 3rd QUARTER, 2023 LIFE SALES RESULTS, Wink Inc, 12/2023, https://www.winkintel.com/2023/09/wink-inc-releases-second-quarter-2023-life- sales-results/

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