Wink, Inc. Releases Third Quarter, 2020 Life Sales Results

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WHOLE LIFE INSURANCE SALES SHINE AMIDST A DISMAL QUARTER

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Wink, Inc. Releases Third Quarter, 2020 Life Sales Results

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Des Moines, Iowa. November 30, 2020 Wink, Inc. released the third quarter, 2020 life sales results in its 93rd edition of Wink’s Sales & Market ReportWink’s Sales & Market Report is the insurance industry’s #1 resource for life insurance sales data, since 1997.

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Non-variable universal life sales for the third quarter were $624.9 million; down 5.2% when compared to the previous quarter and down 25.7% as compared to the same period last year. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales.

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Noteworthy highlights for total non-variable universal life sales in the third quarter included National Life Group gaining the #1 ranking overall, for non-variable universal life sales, with a market share of 10.9%. Transamerica’s Transamerica Premier Financial Foundation IUL was the #1 selling product for non-variable universal life sales, for all channels combined.

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Indexed life sales for the third quarter were $503.5 million, down nearly 1.0% when compared with the previous quarter, and down 9.1% as compared to the same period last year. Indexed life sales include both indexed UL and indexed whole life. “Thanks to the challenges of recent product repricing, low rates, market volatility, and Covid-19 challenges- indexed life was lucky to achieve sales that were relatively level from last quarter.”

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Items of interest in the indexed life market included National Life Group gaining the #1 ranking in indexed life sales, with a 13.4% market share. Pacific Life Companies, Transamerica, John Hancock, and Nationwide rounded-out the top five, respectively.

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Transamerica’s Transamerica Premier Financial Foundation IUL was the #1 selling indexed life insurance product, for all channels combined. The top pricing objective for sales this quarter was Cash Accumulation, capturing 66.7% of sales. The average indexed life target premium for the quarter was $10,920, an increase of nearly 2.0% from the prior quarter.

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Fixed UL third quarter sales were $121.7 million, down 19.4% when compared with the previous quarter and down 57.6% as compared to the same period last year. Noteworthy highlights for fixed universal life in the third quarter included the top pricing objective of No Lapse Guarantee capturing 54.3% of sales. The average UL target premium for the quarter was $5,066, a decline of more than 13.0% from the prior quarter. Moore commented, “It will be a miracle if total 2020 UL sales equal whole life insurance sales for a single quarter!”

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Whole life third quarter sales were $1,053.2 million, up 12.9% when compared with the previous quarter, and down more than 10.2% as compared to the same period last year. Items of interest in the whole life market included the top pricing objective of Final Expense capturing 57.7% of sales. The average premium per whole life policy for the quarter was $3,700, a decline of more than 3.0% from the prior quarter. “I anticipate that whole life sales will remain strong through 2020,” commented Moore.

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Wink currently reports on indexed universal life, indexed whole life, universal life, whole life, and all deferred annuity lines’ product sales. Sales reporting on additional product lines will follow in the future.

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For more information, go to www.WinkIntel.com

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Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.WinkIntel.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all deferred annuity products in 2015, all deferred variable annuity products in 2019, and all non-variable cash value life insurance products in 2017.

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The staff of Wink, Inc. has a combined experience of more than 175 years working with insurance products, more than a decade of which is specific to competitive intelligence. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.

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Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.

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November 30, 2020

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Des Moines, IA

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(855) ASK-WINK