Life insurance new annualized premium increased 16% year over year to $4.3 billion in the third quarter, according to LIMRA’s preliminary individual life insurance sales results, which represent 80% of the U.S. market.
The number of policies sold rose 10% in the third quarter. In the first nine months of 2025, new annualized premium totaled $12.8 billion, up 13% over the prior year. Policy count rose 6% during that time.
“It was another strong quarter for individual life insurance sales. All product lines except for fixed universal life recorded positive premium and policy sales growth. Importantly, the growth was widespread with two-thirds of participating carriers reporting premium growth and more than half posting higher year-over-year-policy sales,” said Sean Grindall, senior vice president and head of Life & Annuities, LIMRA and LOMA. “LIMRA expects this sales trend to continue through the end of 2025 with sales growth moderating over the next few years.”
For the fourth consecutive quarter, whole life sales posted positive growth. WL new premium totaled $1.5 billion in the third quarter, 12% above prior-year results. The number of WL policies sold surged 18% in the quarter, marking the biggest growth since at least 1990.
Term life new premium totaled $754 million, 4% above third quarter 2024 results. Policy count increased 4% in the quarter. Several carriers attribute their growth to rising consumer interest, underwriting automation, and expanded distribution.
In the third quarter, indexed universal life new premium was just over $1 billion. Nine of the top ten IUL writers reported growth, citing expanded distribution, enhanced products, and a strong equity market. Policy count improved 8% in the third quarter, LIMRA reported.