High U.S. stock prices helped life insurers sell more variable universal life insurance in the United States in the second quarter.
The annualized premium total from the sale of new individual VUL policies was 5% higher in the second quarter than in the second quarter of 2016, according to new data from LIMRA.
The actual number of individual VUL policies sold increased 2%, year-over-year.
(Related: Young Consumers' Life Activity Rises: MIB)
Total U.S. individual life annualized premiums increased 4%, year-over-year.
The total number of individual life policies sold fell 3%.
The VUL product line is the only one in the LIMRA second-quarter summary table that shows a policy count increase.
Annualized premiums from sales of new universal life policies increased 2%, but that was the product line with the worst policy count drop.
