LIMRA: U.S. Individual Life Insurance Sales Show Strong First-Quarter Growth
6/12/2026
WINDSOR, Conn., JUNE 12, 2026 — Total U.S. individual life insurance new annualized with excess premium rose 7% year over year to $4.5 billion in the first quarter of 2026, according to LIMRA’s U.S. Life Insurance Sales Survey.
The number of policies sold also increased 5% in the first quarter.
“After record sales in 2025, the individual life insurance market remained strong in the first quarter, delivering solid premium growth. Every product line except fixed UL posted premium gains, and policy sales increased across most product lines,” said Sean Grindall, chief member relations and solutions officer at LIMRA and LOMA. “Despite consumers’ concerns about their personal finances and the broader economy, demand for life insurance remains steady. We must continue using digital advances to make it easier for consumers to learn about and purchase the coverage they need to protect their loved ones.”
Indexed Universal Life Indexed universal life (IUL) new annualized with excess premium reached $1.1 billion in the first quarter of 2026, up 9% from the prior year. Policy count was flat year over year. Six of the top 10 IUL carriers reported double-digit growth. IUL accounted for 25% of total new annualized with excess premium in the first quarter.
Variable Universal Life Variable universal life (VUL) new annualized with excess premium rose 12% in the first quarter to $729 million. At least half of the VUL carriers reported gains, with nearly half posting double-digit growth. Policy count increased 1% compared with the first quarter of 2025. VUL premium represented 16% of the total U.S. life insurance market in the first quarter.
Whole Life Whole life new annualized with excess premium totaled $1.6 billion in the first quarter, up 3% from the prior year. The number of whole life policies sold increased 6% compared with the first quarter of 2025. Whole life remained the largest product line in the U.S. market, representing 36% of total new annualized with excess premium sold in the first quarter.
“Final expense continued to drive WL growth,” said Karen Terry, corporate vice president and head of LIMRA Insurance Research. “While distribution capacity continues to expand in the final expense and instant/express markets, many traditional WL carriers are seeing
flat to negative growth, as recent equity market strength has shifted demand toward products with greater market-related growth potential.”
Term Life Term new annualized with excess premium rose 10% to $791 million in the first quarter of 2026. Policy count increased 6% year over year. Growth was supported by online distributors, automated underwriting, competitive pricing and success in the simplified issue market . In the first quarter of 2026, term new annualized with excess premium accounted for an 18% share of the total U.S. individual life insurance market.
Fixed Universal Life For the sixth consecutive quarter, fixed universal life (fixed UL) new premium declined. In the first quarter of 2026, fixed UL new annualized with excess premium was $219 million, down 7% year over year. The number of policies sold fell 1% from first quarter 2025 results. Fixed UL held a 5% share of new premium.
LIMRA’s Retail Individual Life Insurance Sales Survey represents 85% of the U.S. life insurance market. Since 1921, the U.S. life insurance industry has relied on LIMRA’s benchmark sales study for accurate data and trend insights.
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