Wink, Inc. Releases Third Quarter, 2017 Life Sales Results
November 16, 2017 by Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE
2017 CSO KICKS INDEXED LIFE SALES DOWN A NOTCH
Wink, Inc. Releases Third Quarter, 2017 Life Sales Results
Des Moines, Iowa. November 16, 2017– One hundred two life insurance companies participated in the 81st edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed life insurance sales data since 1997, recently expanded to include fixed universal life (UL) and whole life product lines.
Total third quarter non-variable universal life sales were over $1,012.1 million. Non-Variable universal life sales include both indexed UL and fixed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the third quarter included Pacific Life Companies ranking as the #1 company overall for non-variable universal life sales, with a market share of 7.2%. Pacific Life’s Pacific Discovery Xelerator IUL was the #1 selling product for non-variable universal life sales, for all channels combined, in the third quarter.
Indexed life third quarter sales were $479.5 million; a figure that was down slightly over 1.0% when compared with the prior quarter, and up nearly 6.0% as compared to the same period last year. “Although sales are down, indexed life sales were greater than any other third quarter in the history of this product line!” exclaimed Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc. She added, “Product repricing due to 2017 CSO resulted in a big drop in sales for more than one company, but I wouldn’t say that an overall market decline of 1% is a ‘big deal’.”
Items of interest in the indexed life market included Pacific Life Companies gaining the #1 ranking in indexed life sales, with a 14.9% market share. National Life Group, Transamerica, Minnesota Life-Securian, and Zurich (sales estimated), tallied-up the top five sellers, respectively.
Pacific Life’s Pacific Discovery Xelerator IUL was the #1 selling indexed life insurance product, for all channels combined, for the quarter. The top pricing objective for sales this quarter was Cash Accumulation, capturing 80.9% of sales. The average indexed life target premium reported for the quarter was $8,062; an increase of nearly 7.0% from the prior quarter.
Fixed UL third quarter sales were $533.6 million. Noteworthy highlights for fixed universal life in the third quarter include the top pricing objective of No Lapse Guarantee, capturing 52.8% of sales. The average UL target premium reported for the quarter was $7,676; a reduction of 2.0% from the prior quarter.
Whole life third quarter sales were $1,042.7 million. Items of interest in the whole life market include the top pricing objective of Cash Accumulation capturing 54.1% of sales. The average annual premium per whole life policy reported for the quarter was $2,989; a decline of more than 18.0% from the prior quarter.
While Wink has recently added new product lines to their quarterly sales survey, the firm is focusing on increasing participation with their current product lines of indexed universal life, traditional universal life, indexed whole life, and traditional whole life product sales. Additional product lines, such as term life insurance, will be added to Wink’s Sales & Market Report in upcoming quarters.
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For more information, go to www.LookToWink.com.
The staff of Moore Market Intelligence has the combined experience of more six decades working with indexed insurance products. The firm provides services in speaking, research, training, product development, and marketing of indexed annuities and indexed life insurance. Their knowledge in product filing research and policy forms analysis, coupled with their unmatched resources in insurance distribution, give them the expertise to provide competitive intelligence that allows carriers to stay ahead of their competition.
Sheryl J. Moore is president and CEO of this specialized third-party market research firm and the guiding force behind the industry’s most comprehensive life insurance and annuity due diligence tools, AnnuitySpecs and LifeSpecs distributed by 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.
Ms. Moore is the author 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 fixed deferred annuity products in 2015 and all non-variable cash value life insurance products in 2017.
Wink, Inc. is the company that distributes resources such as this sales report, along with the competitive intelligence tools AnnuitySpecs and LifeSpecs at www.LookToWink.com.
November 16, 2017
Des Moines, IA
(855) ASK-WINK