LIMRA: WL Drives Life Insurance Up 3% in 1Q
WINDSOR, Conn., May 29, 2012 —Total individual life insurance premium grew three percent in the first quarter of 2012 compared to prior year. Overall policy count rose five percent in the first quarter of 2012.
“The biggest driver behind both total premium and policy count growth continues to be whole life,” said Ashley Durham, senior analyst, LIMRA product research. http://insurancenewsnet.com/article.aspx?id=344186&type=topnews
Seniors Growing Old Under Mounting Debt
Baby boomers and other older Americans are drowning in debt, say credit counselors, elder law attorneys and economists.
From 1992 to 2007, the percentage of households of people in their mid-50s and older with housing and consumer debt rose from 53.8 percent to 63 percent, according to the Washington-based Employee Benefit Research Institute’s research using government data. The problem is even more acute for those 55 to 64, with 81.7 percent carrying debt. http://insurancenewsnet.com/article.aspx?id=343933&type=topnews
Why Indexed Annuities Keep Charging Ahead
In the first quarter, indexed annuities topped the charts in sales growth among all annuity lines as compared to first quarter 2011.
The sales volume still did not surpass that of more traditional annuity products, such as variable annuities and fixed deferred annuities, but in terms of salesgrowth, the products were definitely the leader of the pack, and by a substantial margin.
One answer has to do with guaranteed living benefits — the features were a big part of fixed indexed annuity sales in the first quarter. http://insurancenewsnet.com/article.aspx?id=343539&type=topnews
ACA Ruling Will Affect Millions
May 29–If health reform is struck down, many worry that a serious medical incident could drain families savings.
Audrey Joyce and her family will lose health insurance coverage at the end of June, the same month the Supreme Court is expected to issue a landmark decision on the constitutionality of the Patient Protection and Affordable Care Act. http://insurancenewsnet.com/article.aspx?id=344160&type=topnews