INDEXED LIFE SALES HAVE HIGHEST-EVER FIRST QUARTER SALES
NEWS RELEASE
Wink, Inc. Releases First Quarter, 2022 Life Sales Results
Des Moines, Iowa. June 2nd, 2022– Wink, Inc. released the first quarter, 2022 life sales results in its 99th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report is the insurance industry’s #1 resource for life insurance sales data, since 1997.
Non-variable universal life sales for the first quarter were $737.4 million; down 13.7% when compared to the previous quarter and up more than 12.8% as compared to the same period last year. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the first quarter included Pacific Life Companies with the #1 overall sales ranking for non-variable universal life sales, with a market share of 10.0%. Transamerica Life’s Transamerica Foundation IUL was the #1 selling product for non-variable universal life sales, for all channels combined.
Indexed life sales for the first quarter were $629.9 million, down more than 12.2% when compared with the previous quarter, and up more than 18.1% as compared to the same period last year. Indexed life sales include both indexed UL and indexed whole life. “This was the highest first quarter indexed life sales have ever been!” exclaimed Sheryl J. Moore, CEO of both Moore Market Intelligence and Wink, Inc. “Sales were up nearly 20% over the same period, a year prior.”
Items of interest in the indexed life market included National Life Group with the #1 ranking in indexed life sales, with an 11.1% market share. Pacific Life Companies, Nationwide, Transamerica, and John Hancock rounded out the top five, respectively.
Transamerica Life’s Transamerica 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 80.9% of sales. The average indexed life target premium for the quarter was $11,554; a decline of nearly 3.0% from the prior quarter.
Fixed UL sales for the first quarter were $107.4 million, down 21.4% when compared to the previous quarter and down 10.9% as compared to the same period last year. Noteworthy highlights for fixed universal life included the top pricing objective of No Lapse Guarantee capturing 47.9% of sales. The average UL target premium for the quarter was $5,177; a decline of more than 10.0% from the prior quarter. Moore commented, “It is heartbreaking to see a product wither on the vine, the way traditional UL has.”
Whole life first quarter sales were $1.1 billion, down more than 23.6% when compared with the previous quarter, and up more than 5.2% 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 55.1% of sales. The average premium per whole life policy for the quarter was $3,177; a decline of nearly 14.0% from the prior quarter.
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
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.
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.
Sheryl J. Moore, 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.
June 2, 2022
Des Moines, IA
(855) ASK-WINK