Life Insurance Sales in Canada Climb 3%

Posted on April 24, 2009 and updated March 22, 2018 in Life Insurance Canada News 2 min read
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Limra International recently reported that life insurance sales in Canada are on the rise reaching $1.1 billion in 2008. The following is a breakdown of the 2008 Limra numbers in terms of premium sales:

  • Term 10 and Term 20 sales were up by 12%

  • Whole Life sales increased by 13%.

  • Universal Life sales decreased by 3%

  • Term 100 sales were down by 21%

  • Overall premium rose by 3%

 

The numbers reflect three key points:

  1. Canadians value life insurance even in periods of economic uncertainty.

  2. The vast majority of insurance companies in Canada remain financially stable.

  3. Traditional guaranteed products are gaining in popularity. The Term 100 number is skewed given fewer carriers now offers this plan.

Life insurance offers an affordable way for individuals to achieve financial stability in the event of an unexpected tragedy. The current recession has left many Canadians with a smaller safety net. Life insurance creates liquidity and stability.

Life insurance has never been more affordable. You can get an instant quote in comfort of your own by visiting Free Quote or give us a call at 1.866.899.4849.

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