Article Abstract:
Life insurers are facing tight competition from mutual fund companies and brokerages in the qualified retirement asset market. According to a research conducted by KPMG Peat Marwick LLP and the Financial Institutions Center of The Wharton School at the University of Pennsylvania, the life insurance industry's share of the market has declined between 1983 and 1995. As a result, insurers such as CUNA Mutual Life Insurance Co are implementing various approaches to protect their traditional dominance of the retirement asset market. CUNA improved its sales through an employee education program.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Life insurance companies are offering attractive term insurance rates for baby boomers. This pricing war, dating back to the 1980s, is causing segmentation in the industry and is pitting short against longer duration insurance, term against permanent insurance and more against fewer underwriting classes. This market segmentation was initiated by some insurers with the introduction of smoking and nonsmoking insurance categories. Others, such as Indianapolis Life, refused to go with this segmentation trend and opted instead for fewer underwriting categories.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Interest in life insurance products is growing with the aging of the baby boom generation, and life insurers are coming up with new retirement products to meet the demand. The Assn of Insurance and Financial Analysts reported that the number of people retiring each year will rise from 1.9 million in 1995 to 3.6 million in 2010. The American Council of Life Insurance reported that annuity sales alone rose 259% in total premiums between 1984 and 1994.
User Contributions:
Comment about this article or add new information about this topic: