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The Current Landscape of Life Insurance Sales

The retail market for individual life insurance is picking up, particularly for relatively new products like indexed universal life insurance. LIMRA ‘s summary of sales during the second quarter of 2015 demonstrates that consumers are aware of the benefits offered by life insurance, but there is still room for financial professionals to improve sales by reaching out to new clients.

The jump in indexed universal life

Indexed universal life has been a key growth area for the insurance industry during the past decade, and sales of these policies continue to rise. In fact, the majority of universal life policies sold during the second quarter of this year were indexed, making up 20 percent of all life insurance sold during the quarter.

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The increase in indexed universal life sales comes amid increasing regulatory scrutiny on these types of policies that could cause some consumers to be hesitant about making their purchase. Financial professionals should work to counteract this impression by highlighting the ways that indexed universal life can be used to provide tax-advantaged provide supplemental retirement income.

Think Advisor highlighted the need to recommend these policies as long-term options, because in their opinion, the policies are only truly effective as a retirement planning option if the policyholder maintains the IUL product for more than 10 years.

The insurance market is experiencing rapid shifts as certain products become more popular. Financial professionals need to stay aware of these trends to successfully market to their clients.

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Highland Capital Brokerage

Highland Capital Brokerage

Highland Capital Brokerage is committed to developing client-focused relationships with financial advisors using our core competencies of life insurance, annuities, and long-term care. We distinguish ourselves by providing point-of-sale support, advanced marketing, and creative estate and business planning techniques.
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