LIMRA: Individual life sales continue growth trend in Q2
Total U.S. individual life insurance new annualized with excess premium rose 3% year over year to $4.7 billion in the second quarter of 2026, according to preliminary results from LIMRA’s U.S. Life Insurance Sales Survey.
The number of policies sold increased 8% in the second quarter, outpacing premium growth.
“The individual life insurance market extended its growth in the second quarter, powered by whole life and variable universal life and an 8% jump in policy sales,” said Bryan Hodgens, head of research at LIMRA. “That rise in policy count is a clear signal that more American families are taking steps to protect their financial futures. The value of life insurance is resonating with consumers, and our opportunity—and our responsibility—as an industry is to keep making it simpler for people to get the coverage they need.”
Term Life
Term new annualized with excess premium rose 7% to $829 million in the second quarter of 2026. Policy count increased 6% year over year. At least half of carriers reported higher premium sales, and nearly half increased policy sales. The largest gains were supported by online distributors and digital term platforms, underscoring consumer appeal for faster, simpler, and more convenient purchasing experiences. Term new annualized with excess premium accounted for an approximate 18% share of the total U.S. individual life insurance market in the second quarter.
Indexed Universal Life
Indexed universal life (IUL) new annualized with excess premium was almost $1.1 billion in the second quarter of 2026, down 11% from the prior year—its first decline since the second quarter of 2023. The number of IUL policies sold rose 5% year over year. The premium drop reflects an exceptionally strong comparison quarter: IUL premium had surged 31% in the second quarter of 2025, and the carriers posting the steepest declines this quarter were largely those that recorded outsized gains a year ago. About half of IUL writers, including half of the top 10 carriers, reported premium growth. IUL represented 23% of total new annualized with excess premium in the second quarter.