Premiums Increase as the Number of Insureds Declines for Life/Annuity Industry

Insurers adapt to low interest rate environment by adjusting product offerings to manage impact on profitability.

October 22, 2012

Chris McMahon

More than 118 million Americans, or 52 percent, over age 18 do not own life insurance in 2012, compared with 51 percent last year, according to a Genworth Financial phone survey of more than 25,000 adults. However, based on annualized premium dollars, the industry grew 4 percent in 2011, according to LIMRA, and according to A.M. Best, it grew 3 percent in the first six months of this year.

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