Life Insurance Sales Nosedive, Worst Drop in 67 Years

Submitted by Kathleen McGrath on Tue, 09/15/2009

Individual life insurance annualized premiums plunged 20% in the second quarter, according to LIMRA’s U.S. Individual Life Insurance Sales report. For the year to date, sales fell by 23%. In a statement, LIMRA senior analyst Ashley Durham called the drop-off the “steepest six-month decline since the second half of 1942.”