The total first quarter of individual life insurance sales, as typically measured by the new annualized premium, has risen eight percent from the previous year. Universal life insurance has contributed a great deal to the overall increase while term life products have continued steep declines, according to LIMRA.

One of the most popular products, especially for middle income markets, is term life policies. For more information regarding term life products please read “Advantages of Term Life Insurance”. However, even generally being the most popular, it was the only product to see a decline in sales with both premium and policy counts. Term life products have fallen eleven percent. Ashley Durham, Senior Analyst of Product Research for LIMRA, has stated that universal and whole life insurance policies continue to drive sales and that is expected to continue.

65% of companies have increased their sales over the first quarter of 2010, including sixteen of the top twenty companies. This increase has continued for quite some time. Last year saw the greatest decrease of annual sales on record with a premium and policy count declining sixteen percent in the fourth quarter of 2010 and twelve percent for the entire year. New annualized premium for universal life insurance have increased fourteen percent, while the policy count grew to eighteen percent to contribute heavily to the total individual life sales, according to LIMRA.

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