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LIMRA

LIMRA Secure Retirement Institute’s First Quarter U.S. Individual Annuities Sales Survey represents data from 96 percent of the market.

Recent posts by LIMRA

2 min read

Workplace Life, Disability, & Supplemental Health Premium Rebounds in Q2

By LIMRA on Oct 19, 2022 10:00:00 AM

New annualized premium for workplace life insurance, disability insurance, and supplemental health products increased in the second quarter, according to LIMRA’s workplace benefits sales surveys.

“After a sluggish first quarter, sales for workplace life and disability insurance products experienced solid growth in the second quarter,” said Patrick Leary, corporate vice president, and director of LIMRA workplace benefits research. “Despite inflationary concerns, the awareness among employees of the need for insurance coverage remains even after their concerns about COVID-19 have waned, which helps explain the continued growth in certain voluntary products.”

Topics: Benefits Group & Employee Benefits Research/Trends
2 min read

Employers Eye Insurance Benefits as a Way to Attract, Keep Talent

By LIMRA on Sep 30, 2022 10:00:00 AM

LIMRA estimates 86 million employees could have access to new insurance benefits within 2 years

Facing a historically tight job market, many employers are looking to bolster their workplace benefits to attract new talent and retain their existing workforce. In a LIMRA survey of U.S. private employers with 10 or more employees, 60% said they are considering adding a new insurance benefit within the next two years ― roughly double the interest employers expressed five years ago.

Topics: Benefits Employer Sponsored LTCI Group & Employee Benefits
3 min read

Fixed-Rate Deferred Annuity Product Sales Lead the Way in Record-Breaking Second Quarter

By LIMRA on Aug 25, 2022 10:00:00 AM

Total U.S. annuity sales increased 16% to $79.4 billion in the second quarter, according to LIMRA’s U.S. Individual Annuity Sales Survey. Fixed-rate deferred (FRD) and registered index-linked (RILA) sales reached an all-time record for the quarter, while fixed index annuity sales fell just short of a record quarter.

“All fixed products showed positive growth as consumers looked for safety from the volatile equity markets,” said Todd Giesing, assistant vice president, LIMRA Annuity Research. “With average yields at or above 3% for fixed-rate deferred annuities, it’s a rate environment we haven’t seen in a long time.”

Topics: Life Insurance & Annuities Research/Trends
3 min read

Sales of Life Combination Products Rebound in 2021

By LIMRA on Aug 22, 2022 12:43:24 PM

Total new premium for individual life combination products increased 22% to $4.3 billion, compared with prior year results, and down slightly from the $4.8 billion in premium generated in 2019, according to LIMRA’s 2021 U.S. Individual Life Combination Products Annual Review. Combination products represented 20% of total life insurance premium in 2021.

Topics: Life Insurance & Annuities Research/Trends Insurance
3 min read

LIMRA: Second Quarter Annuity Sales Shatter Record Set During the Great Recession

By LIMRA on Aug 1, 2022 10:00:00 AM

Total U.S. annuity sales increased 22% to $77.5 billion in the second quarter, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey. This marks the highest quarterly sales ever recorded since LIMRA began tracking annuity sales and nearly $9 billion above the previous record set in the fourth quarter of 2008 during the Great Recession.

Topics: Life Insurance & Annuities Research/Trends
3 min read

Employee Benefits Influence Worker Satisfaction But Lack of Awareness Could Undermine Their Impact

By LIMRA on Jul 25, 2022 10:00:00 AM

In today’s tight job market, companies are focused on how to differentiate themselves to attract and retain the best talent. There has been a lot of attention on salaries and hybrid work arrangements but how do employee benefits figure into the equation?

Topics: Benefits Group & Employee Benefits Voluntary Benefits Research/Trends
2 min read

Workplace Supplemental Health Product Sales Start Strong in 2022

By LIMRA on Jul 11, 2022 10:00:00 AM

New annualized premium for supplemental health insurance products, (collectively accident, critical illness, cancer, hospital indemnity, and other supplemental health insurance products) increased 6% in the first quarter of 2022 year-over-year. During the same period, new annualized premiums for workplace life insurance and disability insurance fell, according to LIMRA’s workplace benefits sales surveys.

Topics: Benefits Group & Employee Benefits Research/Trends
2 min read

LIMRA Predicts Steady Growth in Annuity Sales as Number of Retirees Expands

By LIMRA on Jun 30, 2022 10:00:00 AM

Despite the continued challenges resulting from the COVID-19 pandemic, the annuity industry rebounded strongly — with the first quarter of 2022 seeing total U.S. annuity sales increase 4% to $63.3 billion. LIMRA expects this momentum to continue through the next several years.

“The outlook for rising interest rates and fairly level equity markets will have investors continuing to look for the balance between protection, growth, and guaranteed income, creating a strong potential for individual annuity sales to break the all-time record levels of sales experienced in 2008,” says Todd Giesing, assistant vice president, LIMRA Annuity Research.

Topics: Life Insurance & Annuities Research/Trends Annuity Awareness Month
4 min read

LIMRA and EY Study Predicts Non-Medical Workplace Benefits to Grow 20% by 2026

By LIMRA on Jun 23, 2022 10:00:00 AM

With the onset of the pandemic, workers became increasingly concerned about their financial security and emotional and physical well-being. According to a new study by LIMRA and EY, there is a growing employee appreciation for non-medical benefits such as paid family medical leave, life insurance, disability insurance, and wellness programs. The study predicts this increased demand, combined with the fierce competition for top talent, will drive non-medical workplace benefits to grow 20% by 2026.

Topics: Benefits Group & Employee Benefits Voluntary Benefits Research/Trends
3 min read

Meeting the Life Insurance Need Through Workplace Benefits

By LIMRA on Jun 16, 2022 10:00:00 AM

COVID-19 raised consumers’ awareness about the importance of life insurance. According to LIMRA research, half of U.S. workers believe their life insurance benefit is more important due to COVID-19. To ensure every worker who has access to life insurance at their workplace opts in, our industry needs to expand efforts to educate employers about the value their workers place on life insurance and encourage them to highlight this important benefit during their next open enrollment.

Topics: Life Insurance & Annuities Group & Employee Benefits Research/Trends COVID-19 Insurance

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