NAILBA Perspectives Virtual Symposium Special Edition | Page 12

CONSUMER SURVEY
Consumer confidence in financial advisors
Confidence in financial advisors also reached a new high in May 2020.
How much confidence do you have in financial advisors?
11 % 11 %
10 % 8 % 10 % 8
13 %
%
10 %
7 %
Not sure
20 %
35 %
30 %
28 %
25 %
20 %
18 %
16 %
14 %
None
45 %
43 %
47 %
47 %
45 %
46 %
48 %
47 %
40 %
Some
Extreme/
Quite a bit
24 %
11 %
13 %
17 %
17 %
24 %
26 %
30 %
36 %
July ‘08*
Oct ‘08
Jan ‘10
Jan ‘12
Jan ‘14
Jan ‘16
Jan ‘18
Jan ‘20
May ‘20
Base: Consumers involved in their household’s financial decisions.
*July ‘08 represents October-surveyed consumer responses regarding “3 months ago.”
First quarter 2020 U.S. life sales results
Individual life insurance growth rates by product (Percent change 2019–2020)
ANNUALIZED FACE NUMBER OF MARKET SHARE
PREMIUMS AMOUNT POLICIES BY PREMIUM
Universal Life First Quarter 2020 -3 % -5 % -6 % 34 %
Year-to-date -3 % -5 % -6 % 34 %
Indexed UL First Quarter 2020 -2 % 2 % 2 % 24 %
Year-to-date -2 % 2 % 2 % 24 %
Fixed UL First Quarter 2020 -6 % -19 % -15 % 10 %
Year-to-date -6 % -19 % -15 % 10 %
Variable Universal Life First Quarter 2020 3 % 21 % 8 % 7 %
Year-to-date 3 % 21 % 8 % 7 %
Term First Quarter 2020 8 % 11 % 6 % 24 %
Year-to-date 8 % 11 % 6 % 24 %
Whole Life First Quarter 2020 -1 % 1 % -6 % 35 %
Year-to-date -1 % 1 % -6 % 35 %
Total First Quarter 2020 1 % 8 % -1 % 100 %
Year-to-date 1 % 8 % -1 % 100 %
Source: U.S. Retail Individual Life Insurance and Individual Disability Insurance Sales Summary Report, First Quarter 2020 (LIMRA)
12 Perspectives Q3 Special Edition 2020