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Life insurance sales increase in 2011

Posted On Wed, March 7, 2012

LIMRA recently noted in a report that total life insurance sales increased in 2011, which was the second straight year where a rise occurred.

The year witnessed a two percent rise in life insurance plan purchases compared to 2010's figures, according to the report. Policies increased by one percent during the fourth quarter, as well. The 2011 rise was only the fourth year which this occurred over the past three decades. Term life insurance remained the most popular insurance choice, as approximately two-thirds of life insurance coverage is represented by this type.

"For the second year in a row, strong whole life sales propelled overall individual life insurance sales growth," said Ashley Durham, senior analyst of LIMRA Product Research. "With the economy continuing to struggle, consumers are attracted to the premium and cash-value guarantees along with lifetime coverage, which whole life offers."

Consumers who don't have a life insurance policy yet, but are interested in obtaining one, may want to compare life insurance rates to find a plan that is manageable with their financial situation.

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