Individual Life Insurance Sales—the Good and Bad News

Declines in other products resulted in total individual life insurance sales falling 11% in the third quarter of 2009, according to the LIMRA report.  Overall, because of steeper decreases in Q1and Q2, total individual annualized premium sales are down 19% YTD.  Universal life (UL) sales were down 14% in the Q3, compared with drops of about 30% in Q1and Q2.In the first nine months of 2009, UL declined 24%, according to LIMRA.

Until these numbers start improving, the job market for underwriters is going to remain flat.

Or worse.